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EUR/USD still watching and waiting
The price action in the EUR/USD remained tight again yesterday and it has not changed so far this morning. The Euro did avoid a fall below 1.0800 though yesterday. The low seen was set at 1.0806, after an earlier session high at 1.0830. The EUR/USD later closed in the US at 1.0813. The comments made here yesterday regarding the Euro waiting for whatever the US CPI has to deliver remain unchanged this morning. That data will be released at 12.30pm GMT tomorrow. The comments from the Fed boss had no material impact on the price action yesterday either and that is not much of a surprise, as he essentially offered nothing new in terms of rhetoric. The range seen so far today has been covered by 1.0811 to 1.0821. That is condensed to say the least, but quite often such condensation can come before a breakout- we shall see. In the meantime, a bit more patience would seem to be required folks. The EUR/USD is currently trading at 1.0818
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