Euro rejected at 1.22400 last week with a very bearish close, this comes in confluence with the bullish close of the DXY. This week we will likely see a continuation to the downside taking downside liquidity. The first area is 1.20200 in an area of demand where price could revert. However, if we close below the key monthly level of 1.20100 then we will be targeting last months low at the level 1.19500.