1.0770 is familiar territory for the euro recently
We've read this story before. EURUSD runs up to the 1.0760/70 area, stalls, then falls back.
EURUSD H1 chart
We'll see whether Nevarro's comments are enough to carry the euro through the level or not. At the moment USDJPY is bearing most of the brunt from this as it falls now to 113.17.
As I type, Reuters report that the Germany finance ministry declines to comment on the Nevarro story. I doub't that's the last we'll hear from over there.
