I made a big deal of EUR/USD edging back above the 200-day moving average at 1.4295 at last nights close….won’t make that mistake again…
Be that as it may, I simply point out that the 38.2% retracement of the March 2009/November 2009 EUR/USD rally is at 1.4120. It would ne nice for the bears of it closed below that level.
We trade now at 1.4108 as US equities and the commodities markets cut into their earlier losses. China’s denial that it has limited loans seems to be easing fears of the PBOC stamping on the monetary brakes.