The EURUSD pair initially tried to rally during the course of the day on Wednesday, but then turned back around to test support below.

With that being the case, we feel that it’s only a matter of time before the buyers step back into this market, mainly because even with the Greeks defaulting on the IMF loan, the Euro didn’t exactly fall apart.

We also believe that the 1.10 level continues offer support as well, so quite frankly we like buying this pair if we can get some type of supportive candle.

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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