EUR/USD: Activity in crosses should see it trading higher
EUR/CHF and EUR/JPY both made significant moves higher overnight, and EUR/AUD has joined in today. EUR/GBP is holding above technical support at .8310 and EUR/CAD is also looking very constructive on the daily chart. My point is that if the EUR is well supported on the crosses there is no way that EUR/USD can fall and in fact it should soon start rising again. If present sentiment in the crosses is maintained, I’d expect EUR/USD to test the next important resistance band which is at 1.3115/45- and I’d expect this to happen in the next 24 hours.