The EUR / USD continued severely beaten, as markets reacted to the news that several Spanish territories need rescue in the near future. In the end, Europe's problems are still far beyond the scope of the solutions that have been suggested.
We noticed that a support level of 1.2070 is the fact that it is a pause for sales. The indicators are showing oversold levels. The trend indicator is setting the level of 2.0923 level of an imminent rebound in the next few hours.
We expect a rebound. This simply gives us the opportunity to sell the euro from higher prices. The area of 1.2320 has to be a strong resistance results, therefore, recommend selling it at that price levels. But a break above 1.2330 would increase the chance of going up to the 1.2440 resistance level weekly. That will give us the opportunity to sell at good prices, with targets to 1.2150 or to the weekly pivot.
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