On Thursday, EUR/USD traders took a breather after the wild swings on Tuesday and on Wednesday. There was hardly any high profile news. The pair was captured in a tight consolidation pattern in the 1.31 big figure. Intraday, EUR/USD changed hands in the 1.3045 area at the open of European markets. European equities initially struggled to hold into positive territory, but finally stocks found a better bid even as there were no important eco data. EUR/USD hardly profited from the equity rebound and this pattern was maintained later in the session. The Spanish bond auction was ok and just before noon the German parliament approved the Cyprus bailout.
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