We were following this triangle on the daily with a bottom line around 1,42.
Yesterday, we did see the EUR/USD sharply breaking the 1,42 level to reach 1,40 key support.
EUR/USD : daily chart
During the asian session, we even saw the pair breaking through 1,40 to reach a new bottom at 1,3930.
We now think that the Euro will continue to be under pressure over the coming sessions and weeks. We might see some kind of pullback considering the upcoming M. Bernanke testimony on Wednesday but ultimately, the major should accelerate decline with a next target at 1,38.
We will consider selling the peaks as we don’t see any bullish resumption on the pair.
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