EUR/USD: Battle looming between 1.3055/75

There are plenty of orders and plenty of call levels between 1.3055/1.3075 and the feeling I’m getting from the interbank market is that this is the next pivotal resistance band. If it holds, then a pull back to yesterday mornings low near 1.2850 is favoured whereas a clean break above will trigger more short covering, bringing 1.3200 and possibly even 1.3400 into immediate focus.