Over the past month EUR/USD has traded a huge EUR/ to 1.1052 range. While volatility has remained at a heightened level, this period has also seen the EUR/USD downtrend, that has dominated the currency pair since July 2014, begin to show signs of stalling.
"While we retain the view that USD strength will remain a key theme of 2015, recent activity underpins our view that the pace of further USD gains vs. the EUR this year will be noticeably slower relative to the pace set in the initial months of this year.
In our view, the EUR//1.11 resistance area would have to be cleared before there was clear evidence of a reversal in EUR/USD." - said Rabobank
