EUR/USD is back to the base of the NY range after hashing around in a 1.4210/1.4250 range all morning.
Looks as though there are willing sellers on rallies, likely taking profits after a very impressive rebound late on Friday. Some of the sellers are central banks, it is rumored, likely wanting to preserve a bit of stability in existing ranges. As much as they like to diversify their dollar holdings, they don’t like to see volatility…
Support for EUR/USD is at 1.4207 and 1.4190. Stops are seen in the 1.4185 area.
