Quite a battle going on in EUR/USD this morning, the euro bulls holding sway so far, supported by assorted sovereign buying.
There are also rumours of a strong Ifo report. And the Spanish news regarding Cajas is being seen as a euro positive.
We’re at 1.3533 having been as high as 1.3556 at one stage.
Still getting reports of sell orders lined up ahead. Now talk of “big” offers at 1.3560.
Big fibo level at 1.3572 (50% of 1.4283-1.2860)
Talk of 1.3575 option expiry today. Talk of 1.3600 barrier option interest, not that 1.3550 lasted long.
Given that 1.3272 important fibo level, I suspect buy stops gathered somewhere not too far north of there.