The EURUSD pair initially fell during the course of the session on Wednesday, but then turn right back around as the Euro gained in general.

It looks as if we are going to continue to bounce around in this area, and we see a significant amount of resistance near the 1.1250 level above that will more than likely keep this range going.

At this point in time, this is a pair that probably is going to be very difficult to trade, especially considering that the European Central Bank has an interest rate decision coming out today.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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