Technical analysts at Societe Generale SA believe that the European currency’s likely to drop to last week’s minimum at $1.2970 against US dollar as it didn’t manage to break above a key resistance area of $1.3445/1.3450. In case euro fails at $1.2920, it will fall to the $1.2585/90 zone. The last time the pair EUR/USD was trading so low was on August 24 when the rate hit the 1.2587 mark.



Chart. Daily EUR/USD

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