EUR/USD rebounds to unchanged

The euro has been in a downtrend for the past three weeks and looked to be breaking out to the downside after the hawkish FOMC Minutes.

Yet there has been almost no follow through and the euro has caught a bid today.

Now, looking at the that chart there isn't much to get excited about. Aside from USD/JPY, there isn't much to get excited about at the moment.

Greg highlighted the importance of the zone around 1.1220 on Friday and the 100-day moving average, which is about 50 pips lower.