The EUR/USD pair broke lower during the day on Tuesday, but as you can see the 1.2850 level below offered enough support to turn things back around and form a hammer like candle. With that being the case, the market looks like it could bounce from here, but we believe that the 1.30 level will bring in significant resistance. With that being the case, we feel that the resistance will hold and offer short-term selling opportunities in this currency pair that is most obviously bearish. We have no scenario in which we wish to buy this pair until we get well above the 1.3250 region.
