The EUR/USD pair fell hard on Wednesday as the European Central Bank head Mario Draghi had very dovish comments during the press conference that the central bank held. The Spanish also had trouble selling bonds, and the one-two punch to the bulls was far too much to handle.
The action looks very weak as the market closed near the lower end of the candle, and it now seems that the 1.30 level is the next target. The 1.3250-1.33 level above could end up being resistance again, so we are willing to sell rallies that show any type of weakness near that area if they come.
Written by FX Empire