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EUR/USD unable to make it back above 1.07 yet

Yesterday afternoon the EUR/USD drifted back to hit a session low at 1.0655. However, it was not down there for very long and rebounded into and after the 4pm London fix. That saw the Euro rise to test the 1.07 handle, but the move higher stalled at 1.0699 and it later closed in the US at 1.0692. Earlier today it stalled again, this time at 1.0697 and then dropped back to a session low of 1.0676 so far. Hence, as you can readily see, 1.0650 to 1.0700 would seem to cover the immediate range so far this week. Naturally, that will not be the case by the end of the week, but for now the EUR/USD is treading water, as it awaits the outcome of the Fed policy meeting tomorrow evening. The EUR/USD is currently trading at 1.0678

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