Euro may fall to 1.26, Citi says

A note from Citi says 1.226 is fair value for the euro. They say the outlook for a successful banking union is clouded by the Cyprus bailout. They say the best chance for the euro to outperform is if US economic data worsens or Italy forces through stimulus measures in Europe.

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=e1397c7a-2e58-404a-8c6c-386903e7641e