EUR/USD (current price: 1.0601)
The most traded pair turned higher again yesterday, as Mr. Trump’s speech caused disappointment among investors in the second half of the session. The U.S. IBD Economic Optimism Index was in line with expectations in December, coming in at 55.6. With no major economic numbers being released in the Eurozone on Wednesday, the pair had a relatively quiet morning session, before exploding higher Wall Street trading and finishing the day near the 1.06 level after touching 1.0475 earlier on.
Our assessment: EUR/USD is still within a volatile consolidation zone, since hitting a 14-year low below the 1.0350 level. Strong resistance is still found near 1.0685.
