The EUR/USD pair fell hard during the session on Friday as Spanish bond yields spiked yet again. The cost of insuring those bonds is also rising, and as a result people are dumping the Euro. However, the 1.30 level just below is massive support, and we need to see it broken on the downside with a daily close under it in order to sell at this point. Rallies can be sold as well, as soon as they show weakness as this pair is so heavy. We are not buying until we clear the 1.35 level.
Written by FX Empire