EUR/USD is rallying back nicely after the earlier sell off. We hit a session low 1.4517 with a French name seen selling aggressively, but aforementioned buy orders at 1.4500/20 provided solid support and we’re back up at 1.4565 at writing.
Given the sharpness of the rally from the low, I’m wondering whether the BIS has again stepped in buying. I can’t however get any confirmation of such.
From here, resistances now at 1.4580/85 and 1.4600/05.
Elsewhere, aforementioned support at 1.6550 is so far lending a heavy- looking cable support.