The EUR/USD pair had a slightly positive session during the day on Wednesday, pre-FOMC Statement. Because of this, the market looks as if it has a proclivity to go higher over the longer term, so having that in mind I believe that this market will eventually rally. Nonetheless, there is going to be significant volatility either way, and with that we see quite a bit of support at the 1.12 level, with resistance at the 1.14 handle. Ultimately, this is a market that is going to be very difficult to trade over the longer term.
