The EUR/USD pair broke higher during the course of the day on Wednesday, testing the 50 day exponential moving average. The 1.12 level above is going to be resistive as well, but if we can break above there we should then go to the 1.1350 handle. Pullbacks at this point in time will have plenty of support at the 1.11 level, but if we can break down below there the market should then go to the 1.10 handle. Regardless, it really doesn’t matter what we do because the one thing you can count on is going to be volatility.
