Markets are fully factoring in the likelihood of an ECB rate cut of a quarter percent next month and suggesting a nearly 58% chance of a half percent cut on December 12. At the same time, bets on a Fed rate cut have gone in the opposite direction, with the probability of a cut in December falling to 52% from 70% a month ago. This situation puts pressure on the EUR/USD quotes. Technically, if the price continues to decline and consolidates under 1.0300, the market is likely to find significant support only closer to the parity - 1.0000. However, we can't exclude price consolidation in the support zone, above 1.0450. But such a scenario requires fundamental grounds.