During the Asian trading session the Euro hit the early February highs against the US Dollar. This resistance area was when the Greece situation was still a major uncertainty. Many are calling for higher prices on the Euro against the US Dollar, however, there is reasonable resistance around here not only from that high but from early summer lows of 2009.

Any move up on the Dollar index, which is also at a support area may see the Euro fall back into it’s current trading range. If you are Forex trading, be aware there is still a fair bit of room below us at the moment for it to fall back into the last months range.

As the Fed voted to keep the current rate levels yesterday, and the commentary that accompanied the decision showing no signs of that changing very soon, the US Dollar could well stay in this range for a little longer.

Although sentiment on the Euro is becoming more positive needs some assurance that the situation with Greece will not be a huge issue moving forward. Signs are good at the moment that will be the case, but until it becomes more of a certainty range bound trading may still be the order of the day.

Looking at the Euro’s strength against other pairs, like JPY, is showing a similar resistance with early February highs. We would well see lower prices, back into the range, before this resistance is breached properly.

Good luck, and keep your Forex Trading safe.