The EURUSD pair rallied initially on Friday, breaking above the 1.09 handle.

We continue the consolidation that we have seen all week, and it now looks as if we are starting to roll over slightly.

If we do drop from here, I expect to see quite a bit of support near the 1.0750 level, and therefore look at it as a buying opportunity.

One thing I think you can count on is choppiness, that seems to be the norm for the currency pair over the last year or so, and I think that isn’t going to change.

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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