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EUR/USD on the rebound towards 1.0450 yet again- will it hold once more?

Since an earlier update here noted the drop back in the EUR/USD to a session low at 1.0409, the Euro has rebounded again and subsequently reached a session high so far at 1.0444. If you care to look at a daily chart of the price action over the past 8 trading days you will see the price stalling multiple times ahead of 1.0450. Indeed that was the breakdown level after the Fed really surprised the markets with a hawkish cut on December 18. As you can see, this level has been providing stern resistance ever since and that is why there has been a good deal of focus on it here in many recent updates. There is also the possibility; for that very reason there might be stops in place above 1.0450 now. However, that cannot be confirmed here, but the existence of such would not surprise this author. We shall see, if it gets put to the test from here on today. The EUR/USD is just now trading at 1.0443
 

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