The last time I was looking at the EUR/USD we were talking about how our "time to pick a top?" scenario came to pass for a 200-pip swing. As I was analyzing the EUR/USD pair further, I can't help but ponder a scenario in which the price action we say in late June/early July repeats itself, with the range holding.In that we have a downward move, that's rather sharp, from 1.34 area down to 1.2750.I have some parallel trend-lines to give me some initial levels of resistance, but you can also use fib levels. It will be important to see what happens at the 200-ema (black) / 200-sma (gray) levels as they offer the next important levels of support.The fundamental story for this would be a resurgent USD on the back of Fed going through with a September start to tapering. So, with this backdrop in mind, I may be looking for reasons to sell in the next few days and weeks, especially if the bearish scenario above comes to pass. If not, and the pair finds support and heads higher, I will re-assess, and either look for some short-term targets to upside (1.34 handle) or look for bearish opportunities if risk events favor the USD. - Nick