FXstreet.com (Barcelona) - The European currency fell on Wednesday about 200 pips to test lows not seen since early December, hitting 1.2560 in Asian session.

At the moment The EUR/USD seems to be consolidating around 1.2600. The pair has tried to break above 1.2620/30 but it has been unable to get higher.

The options on the upside would be breaking through 1.2630 before attempting to reach resistance levels at 1.2700, while, on the downside, failure to hold above 1.2560 would bring the Euro down to 1.2430.