The EUR/USD pair had a fairly silent and stable day on Thursday as we continue to hover just above the 1.07 level. With a, less than overly hawkish comments coming out the Federal Reserve on Wednesday, I think this market may try to drift towards the 1.08 handle. However, a breakdown below the 1.07 level could send this market back down to the 1.06 level looking for support. I think the only thing you can count on is a significant amount of volatility as is per usual in this market. Longer-term, we can break above the 1.08 level I think we will then try to reach 1.10 above there.
Written by FX Empire