The EUR/USD pair fell during the day on Thursday, as we continue to consolidate overall. We currently believe that the 1.10 level is resistive, and that the resistance probably extends all the way to the 1.11 handle. On the other hand, we believe that the 1.08 level below should be supportive, so therefore we feel that this market will probably just drift down to that area before finding buyers. If we did break down below the 1.08 level though, we would be sellers as we would anticipate the market reaching down towards the 1.0550 region again.
