Strong offers at 1.1600 are history as EURUSD marches ever higher 3 May 2016
It's a combination of USD and equity selling and the euro is making the most of it.
EURUSD now blow through decent supply/res at 1.1600 to post 1.1615. EURJPY demand is helping as USDJPY hangs onto the strong demand at 105.50
I've been recommending dip-buys on EURUSD and EURGBP for a while and I see nothing to change that view yet. Go with the flow even if all of it doesn't make sense.
DAX now down -1.65% at 9954.94 and the sometime/often/ correlation sees euro once again feeling the funding currency love. It works both ways of course. Demand for the euro sees less need to have money tied up in equities.
EURUSD has offers/res around 1.1625 to get through now and there's also supply nearby from EURJPY at 122.80 and EURGBP at 0.7865.
EURCHF also finding a few sellers and USDCHF gets slapped lower to 0.9445. EURCHF now down to 1.0963. Expect the SNB to be keeping an eye on things.
