The EUR/USD pair had a real back and forth session on Wednesday as the markets were somewhat skittish during the day. The 1.3250 level being supportive was important, but the reality is that the 1.35 level above is going to be real strong in its resistance, and as a result we are looking to fade any rallies up to that point. We aren’t interested in buying at all, as there are simply far too many problems in Europe at the moment. In fact, unless we close above that 1.35 handle on a daily chart – we aren’t buying at all. Selling will be of rallies to the 1.35 level, on a daily close below the 1.32 level.
Written by FX Empire