EUR/USD fell hard on the Tuesday session as worries about Italian debts continues. The 10 year Italian bond has closed above the 7% level, an area that many people consider “unsustainable”. This should continue to fuel the fears in the market, and the Euro will pay as a result. However, the 1.35 level is just below, so selling is difficult at this point. The daily close below that level would have us selling. Otherwise, we are waiting on a bounce to sell. We do not want to own the Euro at this point.
Written by FX Empire