By 8.50 Moscow time the Euro is at 1.2345 against yesterday's closing level of 1.2362.
News that rating agency Fitch has downgraded ratings of eight regions in Spain caused a new surge of negativism in the external background.
At the same time weak statistics on Chinese economy was released this morning which intensified risk aversion in the market.
Thus, external negative factors are not in favour of the Euro.
Most likely the pair EUR/USD will not go beyond the range of 1.2310-1.2450 at the trading session on Friday.