The EUR/USD pair fell during the session on Wednesday, as we continue to see consolidation overall. The 100 day exponential moving average is flattening out, so this suggests that we are going to continue consolidating going forward. The 1.08 level below should be supportive, as it is the bottom of this market. However, we also recognize that the 1.1050 level above should be resistive, so we think that the market will drop down to the 1.08 level again, but then find buyers again. We think that short-term trading will be the only thing that you can do in this market, especially considering that we are dealing with the lack of liquidity right now.
