Put you brain in neutral, kids. That’s what EUR/USD has done. It is merely rising and falling with the S&P 500 at the moment. Not sure what has given Wall Street a shot in the arm, but we’ve bounced about 0.9% on the day. Having shaken out intraday longs earlier in the session, EUR/USD has a pretty open playing field on the topside. Modest resistance lies at 1.2990/95, while more significant resistance lies at 1.3020/30. Chinese offers were spotted at the highs earlier today.
EUR/USD trades now at 1.2985.