EUR/USD is motoring higher, helped by receding risk aversion and some upbeat comments from Bernanke. We have traded as high as 1.2072 so far, breaking the downtrend as well as the 50% retracement of the 1.2216/1.1875 drop which came in at 1.2045.
1.2086 is the 61.8% retracement of that same drop. 1.2113 is important resistance on rebounds, the June 1 low.
