EURUSD jumps toward 1.10


The EURUSD pair rose notably on Thursday and it was seen consolidating on Friday, with the euro trading at around 1.0960 against the US dollar.

It looks like the major resistance of 1.10 will be tested yet again. That is the psychological level and previous highs and lows are converged here, thus if the euro advances above this level, larger stop-losses could be hit and the EURUSD pair could accelerate further higher. 

Another resistance could be in the 1.1050 area, where the 200-day exponential moving average is located. If the pair rises above this level as well, previous highs of 1.1140 could be under attack.

Alternatively, should the euro starts to decline again, we could see a drop toward 1.090 or 1.0850. These levels might offer some strong support for the pair.

The FX volatility returned to its slumber state again and daily movements are again no more than 70-80 pips. Still, the FX market is one of the least volatile markets and investors prefer indices or stocks when trading. 
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