I’ve been banging on for the last 18 hours about a potential bearish cross in the 10 and 21-day moving averages in EUR/USD. Looks like we’re seeing a little bit of selling as models reset at 15:00 GMT. Nothing huge, but enough to stall the minor rebound after France denied a ratings downgrade was imminent.
EUR/USD is trading now just below 1.3080. 1.3069 is moderate support, the 50% retracement of the 1.2998/1.3140 rally. That level has contained dips thus far this morning.
