Traders report some long-liquidation in EUR/USD from short-term funds who were buyers above the 1.2400 level earlier in the day. Intraday support at 1.2365 has given way, sending some of those players to the sidelines. We’ve been down to the 1.2355 level thus far.
EUR/USD has retraced just a shade over 61.8% of the days range by slipping below 1.2365. 1.2345 is the 76.4% retracement.
