EUR/USD fell on Monday as the market continues to concern itself with the European debt crisis. The Euro is fairly untouchable at the moment, even if it is sitting right on the 1.30 level, an obvious support area. The market could bounce from this level, but it should only provide the prudent trader with an opportunity to sell from higher levels at this point. The Dollar is simply too strong for the Euro currently. We are selling rallies, and would sell aggressively if the daily chart closes below the 1.29 level.
Written by FX Empire