- Plenty of buying interest seen from Sovereign players on the approach to 1.3100, though one source tells me the bids are not huge
- Real money funds now looking to sell at 1.3180 and 1.3200
From a technical perspective, selling rallies back towards the 100-day MA at 1.3270 makes the most sense to me. The market is in an overall bear trend on the daily charts and the 3-wave retracement off the 1.2625 lows now seems to have run its course.
