Consolidation below 1.09 continues
The euro has tried (and broken) each side of the euro range in US trading but has been unable to push the momentum in either direction.
That speaks to a market without much conviction.
EUR/USD has hung around the post-squeeze highs and consolidated but I expected the squeeze to continue as longer-term bears exited. Instead, it looks like they've dug in their heels in the expectations that the Fed will be another catalyst.
I'm not so sure.
For the immediate term, the trade is to play a better break of that range.
