Large US investment bank was the big seller down through 1.3650 and they ran into another big US bank which was buying on behalf of a series of big customers ahead of the 200-dma. The amounts were quite significant according to most reports. Most banks had very heavy stops below 1.3630 and were surely getting trigger happy, but the bids held and then we had the relieving bounce.
Short-term brave bottom pickers can maybe try buying the EUR/USD with a stop-and-reverse policy below 1.3630? Committed bears should wait for confirmation, perhaps a daily close below the 200-dma.
