The euro's sharp retreat from 102.80 (last week's high) adds to our belief that a peak is formed there and since the rebound from 99.65 has ended at 102.80, consolidation with a downside bias remains to further weaken towards psychological support at 100, 00, however, a minor break of support at 99.80 (last week's low) is needed to signal an initial decline from 103.85 has been continued for deeper correction from the initial rise to 99.63-65, then towards 99.20-30.