EUR/USD retested the 1.4634 highs put in place Friday and traders will again keep an eye on the closing price as we’ve pushed above the 61.8% retracement of the 1.6038/1.2325 decline seen last fall on an intraday basis again. Repeated failures to close above that level will prompt medium and long-term players to trim long EUR/USD positions while a close above will prompt fresh hot-money buying. Stay tuned.
