After a second failure to get back above 1.2220 we’re seeing the pair having another look at the 1.2200 barrier as Europe gets underway
Currently on yesterday’s lows at 1.2205 and showing little sign of a rebound as yet.
A break of this level, and through 1.2190, will trigger stop-loss selling but there will be plenty of buyers defending the barrier first.
Delicately poised though with USDCHF failing to rally but stuck around 0.8865 as early USD selling sees USDJPY breaking down through 102.50 support
