If we break down from here and blow below the 1.0650 level, then we will test the 1.06 level, and anything below there would continue the previous downtrend that we had seen. Obviously, this is a market that’s very sensitive to interest rates, and right now, nobody’s really sure what to make of the Federal Reserve statement, press conference and everything else on Wednesday, so this confusion should not be a huge surprise.
With that being said, we also have to look forward to jobs, so that comes into the picture as well, as the employment announcement in America obviously will cause a lot of volatility. More than not, I would say I’m rather neutral on this pair.
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