The EUR/USD pairfell during the session on Wednesday, testing the 1.18 handle. We see this as a major level of support, and the fact that it exists and we bounced off of it tells us that this pair isn’t ready to break down at this point in time. If we did though – this pair could go all the way down to the 1.10 level over the long-term. The market could bounce from here, so we are going to wait until after nonfarm payroll numbers tomorrow to place a trade in this pair.
