The EUR/USD pair initially try to rally on Monday but found enough resistance just below the 1.08 level to turn around. I believe we will probably fall from here, but only for the short-term. This is a market that will continue to be very volatile, as we are on central bank watch now, meaning that this market will be choppy again and again, and I recognize that the 1.06 level below could be massively supportive. If we did break above the 1.08 handle, the market should then continue to go higher. At that point, I would expect 1.09 to be tested.
Written by FX Empire