The EUR/USD pair broke down during the session on Wednesday, testing the 1.05 level, which we see as massively supportive. In the meantime, we think that this market simply grinds sideways, as it seems to be a bit oversold. With that, we will pay attention to the movement and wait for any significant breakdown in order to play this particular pair, or a break below the 1.05 handle. However, we do think that the market eventually does selloff, heading to parity as this EU still has all of the same issues as it has had over the last few years.
