The EUR/USD pair rose during the course of the day, reaching towards the 1.1350 level. The area has been resistive in the past, and having said that it’s likely that the sellers could reenter this market, but if we break above there we should continue to go much higher. Pullbacks should offer buying opportunities going forward, as the Euro continues to strengthen overall. I believe that the 1.12 level is now going to offer a bit of a “floor” in this market going forward. With fact, we are expecting buyers to come back into the market.
