EUR/USD sits at 1.3985 in lacklustre early European trade, having closed out Friday in Europe marginally lower around 1.3960.
Ongoing reports of sovereign buy interest down at 1.3900/30 are lending support, while heightened risk aversion is helping curtail topside. The result is an impasse, with 1.3950-1.4000 providing durable trading parameters so far.
Would think there are some buy stops just above 1.4000, sell stops just below 1.3900, but haven’t had confirmation of such as yet.