The EUR has made significant gains against the GBP, CAD, and AUD over the last 24 hours with excessive positioning taking its toll. These moves are seen as retracements in a mature trend, rather than any sudden desire to be long EUR in a QE environment.

The next approximate resistance levels of note in these crosses are .7600 in EUR/GBP, 1.4700 in EUR/AUD and 1.4400 in EUR/CAD.