From the ForexLive Asian Wrap:
EUR/USD fell early in the day on selling from US investment names, triggering stops below 1.3340 to take the rate to 1.3325 before it sharply rose to 1.3380
It was a continued thin-liquidity holiday in most of Asia after these early moves, but it has firmed into early Europe.
- There are offers in the market 1.3390/00
- and good-sized offers around 1.3430
- A mixture of more offers and stops around 1.3450
- Good-sized offers 1.3480
On the downside:
- Bids 1.3320/30 but some stops below
- Bids 1.3300/10
- Stops below 1.3280/90
Watch for the potential for market-moving comments from the ECB’s Governing Council member Nowotny and Bundesbank Board member Dombret who are speaking at a conference in Vienna today from 0815GMT. The conference is on Banking Regulation, so there may not be anything of immediate significance to currency rates … but you never know …