The EUR/USD pair tried to rally on Friday but turned around to show more signs of lackluster performance. If we can break below the 1.06 level, the market will then more than likely reach towards the 1.05 level underneath. If we do break to the upside, I believe that the 1.07 level will offer a bit of resistance. It looks as if the EUR is starting to lose steam against several currencies currently, and I think the US dollar course will be any different. A breakdown to the 1.05 level then has the market looking towards the 1.03 level if we can go below there.
Written by FX Empire