The EUR/USD pair rallied on Monday, as we continue to find the 1.05 level supportive. However, I think it’s only a matter time before the exhaustion comes back into play, and we can start selling yet again. I think that eventually will break down below the 1.05 handle, but it’s obviously a very stubborn area at the moment. Once we do break down below there, I expect to reach parity fairly quickly. I think that the 1.0750 level above will continue to offer massive resistance. With this, I remain bearish but I am picking my spot.
Written by FX Empire