The EUR/USD is getting whipped around today as mixed reports were issued out of the US.  First the US PPI report came out dissapointing at -1.6%, lower than the expected -0.3%.  This sent the Euro up to a day high of 1.2870.  This news was later followed by the news that the IBD/TIPP Economic Optimism Index rose 3.3 points to a 22-month high of 55.7.  This sent the EUR/USD back down to the 1.2800 level.

Expect the Euro to whip around some more as traders try to figure out just how strong the US economy really is.  Right now, the 1.2800 level is providing a lot of support for the Euro and until firm sentiment is bolstered by some strong date, the EUR/USD should range from 1.2800 to 1.2900 for the next couple of days.