The EUR/USD pair fell during the day on Monday, but as you can see found enough support at the 1.35 level to stay somewhat afloat. Regardless, we feel that this market is probably going to be prone to be very choppy in general, and this will be especially true as there are a lot of questions about quantitative easing coming out of the United States. With that being the case, we still feel that the consolidation that we have seen over the longer term will more than likely remain, with the possibility of 1.36 been significant resistance, while the 1.33 level is most certainly significant support.
Written by FX Empire