The pair has been quickly depreciating on Wednesday, its fallout attributed partly to the Republican Party massive win in the US mid-term elections yesterday.

It briefly recovered to 1.2500 level post ADP data only to fall again to 1.2480 area.

Even Non-Manufacturing PMS which came at a less than expected reading(57.1) could not save EURO from farther declines.

Tomorrow's ECB Press Conference is likely to be a chaotic show on EUR\USD charts with spot revisiting 1.2370 - a level not seen in long time.
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