Three prior probes below 1.3500; where did we close?

The night of the Fed’s discount rate cut EUR/USD fell to 1.3443. Where did we close in New York later that session? 1.3619.

The next time down we fell to 1.3451. Where did we close? 1.3549.

The slide to 1.3433 on March 2? We closed at 1.3622.

Now we can see why Goldman put a “one-day close” proviso on its EUR/USD stoploss at 1.3500…

Trichet is making upbeat comments on Greece’s ability to rollover its debt. He says he assumes Greece will not be downgraded and that market participants will be convinced by Greece’s efforts. (Even though Greece doesn’t seem to be convinced….)