By: Charley Warady
The EUR/USD hit a two month low yesterday in very light trading in anticipation of the Thanksgiving Day holiday. The reason for the drop was a combination of light trading and concern over the economic situation in Ireland.
Although the market dipped briefly below the support levels, it still seems to be holding and not knowing which way to go. If it can hold around the 1.330 range, it may have somewhat of a support level there. It remains to be seen as to where the new trading range will be going into the thin holiday trading season. The markets that will continue to trade today will see negligible movement in the absence of the American market activity.