It tool EUR/US a few attempts to break decisively below 1.2548 support and has finally succeeded in a substantial way, falling back to 1.2525. Expect protection of 1.2500 barriers to put up a fight on the way down.
The lower EUR/USD goes, the greater the focus on the substantial liabilities European banks have in Eastern Europe will become as will the divergent creditworthiness of eurozone members. A weak euro is an advantage to Europe at this juncture economically but it could become a public relations nightmare if break-up risk moves into the spotlight.