Following up on yesterdays post,
1.30 is key to gain more upside –
Not much until 1.3060
Euro is trading at 1.3048, after reaching recent highs of 1.3055. Recent price action and FOMC day has me thinking that this might be a temporary top for today since trading in general tends to experience lower volatility pre-FOMC announcement.
So far, I am mantaining the upward bias. 1.3000´s is my line in the sand for shorter term, while breaching 1.2940 will likely leave the pair exposed towards more downside.
To the upside, 1.3080-1.3060 is the first threshold, followed by 1.3124-1.3092, specifically 1.3110, for now.