EUR/USD has been flirting with the downtrend that has been in place since early December in quiet US trade. We’ve edged above the trendline the two prior sessions on an intraday basis but have yet to close above it. Given the lack of momentum in the market, I get the sense that we may break the downtrend by moving sideways rather than exploding to the topside…
1.3741 is where the trendline is drawn today, for what it’s worth.
