Lots of headlines during the NY session, and none of them positive for the EUR. Speculators are still the main sellers of the EUR/USD, but with French borrowing costs starting to rise, we may soon see the real money join in. That will be the trigger for the next wave lower, if and when that cavalry arrives.
Lets hope we don’t see or hear the same rubbish rumours which were being spread throughout the Asian session yesterday but as usual Europe saw through the bulls… and undid the Asian moves.
Heavy selling interest reported near 1.3600 and barriers at 1.3425 and 1.3400, that should encourage further choppy range trading. The bias remains bearish for the EUR but beware of short-covering as the weekend nears, just like last week.
Good luck today.
