The Euro fell pretty hard during the trading session on Thursday but remained above the vital 1.12 handle. In fact, we started to see buyers at extreme lows so the question remains whether or not we are going to be able to hold in this range? Looking at the chart, is very easy to see that the 1.12 level has been crucial support, and therefore it’s likely that we will continue to see interest in this area. To the upside, we continue to see massive resistance at the 1.15 handle, so quite frankly this is an area that I think continues to attract attention overall and as we are at the bottom of the larger group, it’s likely that we will bounce. However, on the other side if we break down below the 1.1150 level, the market would break down significantly as it is a large, round, psychologically significant figure and of course the scene of previous resistance.
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