We’ve had an almost 300 pip rally since the lows seen on Monday so intraday EUR/USD bulls will have to be careful on their entry levels. The earlier push to trigger stops above 1.4340 failed marginally and now we are back at 1.4300 with EUR debt worries returning to the market’s attention. Remember that it is Friday, usually a risk-off day in Asia, when positions built up during the week get trimmed. I’d expect hourly support for EUR/USD to be firm near the 1.4250 trendline.
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