EUR/USD declined significantly after the price broke the multiple inside bar candlestick pattern that we discussed earlier today. Note that the Commodity Channel Index (CCI) also showed an overbought situation for this currency pair at that time and the probability for the price to break below the inside bar candlestick pattern is high due to the strong down trend which we have covered in our London Session Watch earlier today. The current support level is at 1.3000 (Psychological level) and resistance at 1.3110. The overall long term trend remain bearish and we could potentially see price continue this downside movement in today New York session.