EUR/USD fell hard during the Friday session as the onslaught continued. The Euro simply has major issues now, with many starting to question its very existence in a few years. The markets are punishing the EU for failed debt auctions, and the close of the session was very close to the bottom of the daily range. With this in mind, the pair will have to break through the 1.31 level to continue downward, but at this point – that looks very possible. The pair could bounce, but that will only bring out more sellers at this point.
Written by FX Empire