Euro long term objectives could see it go further down.

Fundamental
Falling demand for cars cut euro zone industrial new orders by more than expected in September from August, pointing to a deep industrial recession and further interest rate cuts by the European Central Bank.
The euro rose against both the dollar and yen despite the fact that data released showing that the European service and manufacturing sectors contracted in November. The flash purchasing managers' indices fell to 43.3 to a record low and below expectations for a reading of 45.2. The news could increase the pace at which the European Central Bank (ECB) will cut interest rates as there is a growing consensus that the ECB may cut rates by as much as 75 basis points at its next meeting on December 4.

Technical
Technical analysis shows the euro may continue its downtrend as MACD chart is giving us a selling signal by crossing the signal line to equilibrium level and RSI breaks 70% line and is pointing downwards. We have strong supply in the market as stochastic shows us the market movement and Bollinger gives us a bearish signal by closing the candle below the lower band.

EUR/USD (Daily Chart)
The primary tendency is still in a clear downtrend.

 

 

EUR/USD (Hourly Chart)
The Minor trend is in a strong uptrend

 

Resistance
1.2825
1.2925

Support
1.2420
1.2390