The EURUSD pair fell during the course of the day on Wednesday as the market continues to look soft for the Euro in general.

With that, we recognize that the 1.13 level below will be supportive so if we can clear that to the downside, we would begin selling again.

On the other hand, we believe that the market needs to find support, probably closer to the 1.10 handle before it’s all said and done.

We have no interest whatsoever in buying, because we think there are far too many resistive levels above.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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