EUR/USD - (1.1358) 0258 EST; 0858 CET - EUR/USD found resistance at 1.1370 and is making a small sideways consolidation . . . expect further upmove to 1.1400 - 1.1420 later in the day. This is the relief rally we were looking for, and may not last long -- the currency will probably fall again from those higher levels and should make it to the 1.1100 - 1.1000 support area.
By Robert P. Balan
Head of Financial Markets Strategy
Saxo Bank