EUR/USD fell on Monday as traders continue to sell off the Euro in general. The EU has massive and well-known debt issues, and the Italian bond auction for the 5 year note went poorly for the session. As a result, the pair sold off, and is now threatening to retest the 1.35 level. The 1.35 area should be very supportive, and if it lets go – we will fall much more. The pair seems to have 9 lives like a cat, but there has to be a cracking point. We are looking for buy signals a little close to 1.35, but until we get them – we are avoiding this pair as it is at the eye of the storm.
Written by FX Empire