Now that Europe has closed up shop, we may slip into consolidation mode for the balance of the session.
We made a second attempt to make a run at 1.3100 barriers but we stalled at 1.3111 and bounced from there to the 1.3130s.
It may take the US equity market really falling out of be to take a third poke at the downside.
Above 1.3345/50 will take the immediate downside pressure off of the downside near-term. Expect some short-covering above that area.
