EUR/USD bid early; sell orders noted

EUR/USD is bid in early European trade, presently at 1.4165. The USD remains in the doghouse, underminned by worries over it’s burgeoning budget deficit and it’s funding, and by improved risk sentiment.

Technical supports lie at 1.4115/20 and 1.4100, resistances up at 1.4165/70 and 1.4200. Sources report sell orders lined up at 1.4170 up through 1.4200, so further upside may be orderly rather than spectacular. That’s not to say that further EUR/USD gains aren’t in the offing, they most probably are.