The EUR/USD pair broke higher during the course of the day on Tuesday, but found the 1.30 level to be far too resistive. That area has offered far too much in the way of pressure to keep the market going higher, and as a result we feel that the market is simply sitting in this general vicinity waiting for some type of signal one way or the other. If we do break above the 1.30 level, we think that the market will then head to the 1.32 handle. However, we suspect that this market is going to be fairly quiet.
