The EUR/USD pair dipped below the 1.35 handle during the session on Tuesday, but bounced back in order to close just under 1.36 as the buyers stepped in and defended the 1.35 handle after all. We suggested that this area would be significant support, and it now appears that the Euro is ready to take off against many other currencies as well. With that being the case, a break of the highest from the Tuesday session should be reason enough to start buying the Euro going forward. As far as selling is concerned, we have aptly no designs on doing so until we get well below the 1.34 handle.
Written by FX Empire