EUR/USD: 1.2750 looms as pivotal support level

The EUR/USD has eased by around 25 pips in Asian trade, falling in sympathy with the AUD/USD more than anything else. If we get a swift sell-off in Europe then it will certainly be good value to buy near 1.2750 with a tightish stop as there is very important support near there. If it drifts slowly lower then I’d be less inclined to buy on a Friday afternoon.

USD/JPY has been a waste of time today and its really all been about the Anzacs.

  1. Picking a level where it will stop is guesswork Serga but what we can be 100% sure of is that pretty soon it will stop falling and either retrace or consolidate; that always happens. I prefer to wait n see how mkt looks at that level- why do you pick that number?

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