The EUR/USD pair initially fell during the session on Monday, but as you can see rocketed through the 1.30 level later in the day. That being the case, we have completely cleared resistance that we were worried about previously. With a going forward, this market will try to reach the 1.32 level, and as a result we should continue to see buyers stepping into the marketplace on this, albeit for just a short-term gain. On the longer-term Outlook, we still think this market will remain range bound between the 1.32 level on the top, and the 1.28 level on the bottom.
Written by FX Empire