The EUR/USD pair fell slightly during the course of the session on Friday, as the previous uptrend line now is offering quite a bit of resistance.

On top of that, the 1.10 level above is a large, round, psychologically significant number.

That of course offers quite a bit of resistance based upon that alone, so it is interesting that we struggled at to continue going higher.

If we break down below the bottom of the range for the Friday session, we would be sellers. On the other hand, if we can break above the 1.11 level, we would be buyers.

In between those 2 areas, we are standing on the sidelines.

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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