Euro continued its rally today and was the best performer among major pairs. It did very well on the crosses too, rising the most against the Australian Dollar.

Tomorrow is Friday and with most of the Europe on holidays there's potential for some volatile moves on lower liquidity and month-end flows, but just as likely scenario is that the pairs will be consolidating in (tight) ranges.

The zone to watch on the upside is 1.1275 - 1.1300 and if it gives way, a sizable short squeeze could follow.

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