The EUR/USD pair fell after bouncing around during the Wednesday session. The pair is currently trading just under the 1.3250 resistance area, and it makes sense that it would struggle as a result. The Spanish and Portuguese bond markets saw a bit of a spike for the session, so it looks like we are worried about European debt yet again. As long as the problem isn’t fixed – and it won’t be for some time – we are selling Euros on the whole. On a break of the lows for the session, we would short this pair, expecting to see 1.30 as the next target. Buying isn’t even a thought.
Written by FX Empire