EUR/USD triggered a few stops in the 1.3515/20 area as intraday low at 1.3522 gave way. We dipped toward the 1.3500 level before gathering our footing. That level is notable because that is where EUR/USD retraced to after Geithner’s Gaffe yesterday morning.A better 7-year note auction by the US Treasury has settled debt jitters quite a bit this afternoon.
Now that the stops have been harvested, we could drift back to 1.3550.
More downside stops are eyed just below 1.3500 and again below 1.3410.