IF EUR/USD breaks 1.3380 (note the CAPS and bold) breaks 1.3380/90 on a sustained basis, a near-term bottom will be in place on the short-term charts. A bounce to the 1.3680 area could be the topside target.

That’s a big if amid reports of ready selling interest in that area. But if we break above that level and hang around for a while, a deeper retracement to the topside looks likely.