EUR/USD/Flows and Orders

EUR/USD: 1.2950 holding despite poor Ifo

The German data was worse than expected and the first batch of stops below 1.2970 were triggered, but support at 1.2950 is holding thus far.

I’ve got no overwhelmingly strong view and still believe that EUR/USD is playing a secondary role to what’s happening in the crosses. My view might well change if we start getting some daily closes low on the 1.29 handle.

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