EUR/USD Update

From the FXWW Chatroom: The EUR continues to be rangebound as we sit in the nether region between the ECB and the Fed. Overnight, equities struggled so EUR rallied the requisite amount and it now looks like good value to be short with a stop above 1.0920 (the high on Draghi’s initial presser comments). I think that the Fed statement will be relatively unchanged with little meat for those expecting a dovish swerve. That combined with Draghi should take us back towards 1.0780.

Key support after that is 1.0700 and key resistance at 1.0980.

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