FXstreet.com (Barcelona) - The Euro is dropping fast on strong selling pressure after the negative opening of the European stock markets, and the record slump of EU Industrial production.

Selling pressure in European trading session has pulled EUR/USD 140 pips down so far hitting week-low at 1.2796. At the moment of writing, the Euro is trying to pick up towards 1.2850, susttainable movement above there would open the doors to 1.2930 and 1.2990.

On the downside, failure to hold above 1.2810 could bring the EUR/USD to levels around 1.2748 (Feb, 6 low), and 1,2700 (Feb, 2 low).