Technicians got a nice chance to short the EUR/USD last night when it revisited the previous support area near 1.2620, which was sharply rejected. Flows are still substantial and with more major international asset-reallocation expected next week, the EUR may be in for some more pain.
Risk-off Friday for Asian markets, and based on moves of the last two weeks I think I’d be going with the flow.
Good luck today and TGIF.
