• There is a previous daily high at 1.3875 which offers an obvious resistance level;
  • Crosses are mixed with EUR/JPY support levels still holding but EUR/AUD and EUR/NZD looking soft still;
  • Positioning reports suggest that the market is still very willing to sell rallies;
  • With USD weakness starting to look ingrained, I have a preference for the ‘buy-dip’ strategy in EUR/USD but there are better trades elsewhere IMHO.