FXstreet.com (Barcelona) - The EUR/USD bottomed its decline from 1.3000 at 1.2662 and it has recovered about 80 pips on Asian session hitting 1.2742, the pair is in a bearish configuration and., after a period of consolidation could head for lower levels, specially with the help of a negative Ifo Business Climate Index due at 9:00 GMT.

According to the Mataf.net Technical team, we could expect some more consolidation during today's European session: The volatility decreases. Bollinger bands are tightened. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,2520 / 1,2900 range.

EUR/JPY has recovered on Asian session all the ground lost on Monday, after hitting 119.39, the Euro has bounced up to 121.50 and, at the moment rises towards resistance area at 122.00.