As the single currency has maintained a firm undertone partly due to cross-buying against Japanese yen, suggesting recent upmove remains in progress and gain towards 1.2739 (61.8% projection 1.2193-1.2613 measuring from 1.2479) is likely, however, loss of upward momentum should prevent sharp move beyond there and reckon 1.2784 (50% Fibonacci retracement of 1.3692 to 1.1876) would hold from here, bring correction later.
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