Forex: EUR/USD hits fresh 3-month low beneath 1.2950

The euro extended losses against the greenback in the wake of strong US retail sales data, and despite a recovery attempt, it recently broke below the 1.2955 area (previous range bottom) to hit a fresh 3-month low.

The euro resumed the downside on Wednesday after repeated failure to overcome the 1.3070 area, put EUR/USD back under pressure, triggering stops below 1.3000 and 1.2955.

At time of writing, EUR/USD is trading around 1.2940, recording a 0.7% loss on the day, having hit its lowest since Dec 11 at 1.2930.