The EUR/USD pair had a very volatile session on Thursday, breaking above the 1.12 level but pulling back just slightly. This begins a significant area of noise extending all the way to the 1.15 level, so that means that the Euro is probably going to run into a bit of trouble. Pullbacks will be necessary in order to build up enough momentum, and we believe that the 1.10 level below should be supportive. It’s very possible we may find ourselves in a bit of a trading range soon, as the market continues to struggle with overbought conditions.
