EUR/USD has slipped back in early European trade, presently at 1.2920. Sources report that the overnight recovery was helped by Asian sovereign buying interest.
For today, sources report some buy orders lined up down at 1.2890/00, but they are not seen as overly large. On the topside, offers are seen lined up at 1.2970/80, with buy stops just above there.
There is talk of a knock-out option down at 1.2850.
Technical supports at 1.2895/00 and 1.2850, resistances at 1.2955/65 and 1.2980.