FXstreet.com (Barcelona) - The EUR/USD has fallen more than 150 pips, in the hour after U.S. retail sales data and the moments after opening bell, broking the 1.2750 level and looking for the 1,2700 support, (February 2nd low).
If the pair break the 1,2700 level, it could go to the 1.2550 land, minimum since December 4th.
According to Mohamed Isah, FXTechtrategy's Analyst, While the pair continues to hold above its broken falling channel top, loss of momentum at 1.3093 level continues to increase risk of lower prices towards the 1.2766 level, its Jan 23'09 low ahead of the 1.2706 level, its Feb 02'09 low. This level which turned the pair higher the past week is now a trigger to further downside weakness. Penetrating and maintaining below that level will call for a decline towards the 1.2551 level, its Dec 04'08 low with a breach of there setting the stage for a retarget of its 2008 swing low standing at 1.2330.