The price has rebounded off the low and tests broken trend line and MA resistance. The market players still cannot keep momentum going on a move lower (or higher). If the fundamental opinion is negative from the comments/German rejection fears/sell the fact, this is an area to sell. If the market interprets something more positive (or if traders just give up on the downside), the level will be broken. Look for sellers followed by a move back below the 100 hour MA at the 1.2582 (blue line in the chart below) to confirm the downside. Otherwise, we are still dealing with the same ole, same ole.
