What’s this? US equities are up 1.0%, oil is up on the day, interest rates are rising and commodity currencies are firm. EUR/USD should be well supported, no?
Not so fast, Kemosabi.
EUR/USD is still trying to digest the binge it had at the 1.4000 level after the Philly Fed and is having trouble. A purge maybe needed before a rebound may ensue. Stops in the 1.3940/45 area are threathened as we write. Look for bids toward 1.3900/10 on dips.
