Technical resistance is thick in the 1.4845/60 area on the charts, but the source of the selling could have dried up….
China had been defending 1.4680 and 1.4700 barriers but now that they have been triggered, they may not have the EUR/USD on board to sell into strength this time around …. Granted they have billions of EUR/USD they could sell any time, but the options book may not be as active as the last time we were at these levels. Food for thought…