The EUR/USD pair fell significantly during the course of the session on Tuesday, as we are now well below the 50 day exponential moving average. However, the 1.11 level below looks like it is somewhat supportive, and probably extends all the way down to the 1.10 level. With that, we are not ready to start selling anytime soon, as it would be a little bit late. If we get a supportive candle between here and the 1.10 level though, we think that a bounce could be about to happen and it would offer short-term buying opportunities.
