The EUR/USD pair continues to pull back. It has broken below the monthly pivot at 1.3225, and is still falling. It has come back a Fibonacci 23.6% of the overall length of the rally, and is currently meeting support from previous highs at the same level. It will probably continue falling further, with a down-side target at 38.2% Fibonacci at 1.3105. This is also at the 100-day MA, and constitutes the most significant downside target on the horizon at present. Alternatively, a bullish break above the 1.3305 highs would provide confirmation for a resumption of upside and a target at 1.3455.