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EUR/USD back to 1.3380 pre IFO

FXstreet.com (Edinburgh) -Quite volatile session so far for the shared currency, with the EUR/USD now easing some ground after climbing to the 1.3380 area.

EUR/USD capped by 1.3390

The upper band of the more ample 1.32-1.34 range continues to put a lid on any bull attempt, as the markets are still waiting for any catalyst to break the prevailing pattern. The German IFO indicator is due next, with market participants expecting the series to improve in all of its components. Igor Sayadov, Analyst at RoboForex, commented, “The main target is at 1.3150. This descending movement may be considered as a correction, …read more