EUR/USD: Sorry no ideas, too hard!
- The EUR crosses remain quite well bid although some like EUR/AUD and EUR/CAD are showing signs of short-term ‘tiredness’.
- The market is still slightly short of EUR but positions are at quite low levels.
- Technical support is strong near 1.2750 and Sovereign buyers are reported on dips.
- Sovereign sellers are also seen near 1.3000, strengthening the case for further range trading.
I haven’t traded EUR/USD for a while and that’s not likely to change; more clarity elsewhere.