Category in EUR/USD

EUR/USD technical analysis: Weekly chart has scope for 1.3140

The short term charts are bullish but somewhat overbought on most indicators; the daily chart is in retracement mode but is running into initial resistance near 1.2885 with stronger levels at 1.2935/40; and the weekly chart looks to have scope to test the full 38.2% retracement of the 1.4930/1.2040 decline which comes in near 1.3140.

Interbank flows and orders: SNB expected via Dutch PB

EUR/USD: Picking up plenty of selling interest now above 1.2820 with light bids starting at 1.2770. Plenty of activity today with ACBs, real money and macro funds all active. Expect to see SNB selling EUR in early European trade through Dutch Prime Broker. AUD/USD: Bids near 1.0330 and offers above 1.0425 should ensure range trading

EUR/USD: Initial technical resistance at 1.2825

As you can see from the attached chart, the 61.8% retracement of 1.3280/1.2040 comes in at 1.2825 and this level should attract plenty of profit taking interest. EUR/GBP has made a bullish break above .7965 and both EUR/AUD and EUR/JPY are consolidating recent bullish moves, all of which points to continued support for the EUR. Buying dips is