Euro's selloff in part due to renewed cross selling versus yen and chf signals recent decline from 1.4720 has resumed and further weakness to 1.2750/60 is likely but anticipated oversold readings on hourly oscillators should limit downside to 1.2700 and yield a corrective rebound later.  
On the upside, above 1.2908 (previous support) would indicate a temporary low is possibly in place and bring retracement to 1.2970/80.