After a large bullish
move, the Euro
has ranged for about a week now, unable to garner significant follow through. This may lead to some unwinding if there is no bullish
boost during the Bernanke speech. A breakdown will test the range lows around 1.3015/3000, where some intraday buyers will likely take a crack at. If this fails, then 1.2920 and 1.2890 are on deck.