Last week, the EUR/USD went back to the decline and broke a support at 1.2289 (May 2012 low pivot). This signals an extension of the downtrend towards 1.2134 (longterm retracement). Breaking below this level would release more downside potential towards 1.1875 (2010 low point). The initial resistance is located at 1.2410. (Short : Stop @ 1.2415 ; Target @ 1.2140).
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NATIXIS