EUR/USD is back to unchanged on the day at 1.3688 after falling to 1.3651 in early US trading.
Last Wednesday, EUR/USD ripped higher after a failed break to the downside. That move reminds me of the price action we’re seeing today, albeit on a smaller scale. What’s different this time is that non-farm payrolls are tomorrow and that will limit moves in the day ahead.
On the orderboard there are offers at 1.3700/04, which were the highs on Friday. There are buy stops above 1.3715 with offers at 1.3720 and more stops at 1.3725. That’s followed by sellers at 1.3745/50 with stops above.
