Consolidation: The EUR/USD was consolidating this week between 1.3057 and 1.3150. The market was bearish again after yesterday’s positive US data, but did not break the 1.3057 until the 6/26 European session. As we begin the US session, price is nearing the 1.30 handle. We might get some support here at the psychological level, but the breakout suggests about 95 pips in the direction of the breakout, which projects to about 1.2970. Support: The 4H chart shows the market cracking the 61.8% retracement at 1.3032. Below 1.30, we are getting close to some support factors that can challenge the current decline. 1.2955 is ... (full story)