Euro climbs more than 100 pips from Wednesday's lows
EUR/USD briefly touched below the December 2015 low on Wednesday but battled back, leveled off and is now up 70 pips on the day to 1.0624.
It's a tiny victory for the beaten down euro but scaling out to the longer-term chart shows how vital these levels are.
The thing is, even if it had broken down during holidays there would be questions. So there's some consolidation here but with the ECB, OPEC and the Fed fast-approaching, a 100 or 200-pip buffer isn't much of a leg to stand on.
But it's a start and if the euro can get above Tuesday's high of 1.0658 then it might be the start of something.
