• Strong demand related to EUR/AUD flow but this is probably mostly done by now.
  • EUR/JPY stop-loss selling has off-set the EUR/AUD buying to some degree.
  • EUR/GBP looks to have a top in place just below .8600.
  • Technical picture suggests that the short-term extremities for EUR/USD are at 1.28/1.33.

I cannot see any reason to trade EUR/USD at the moment especially given the big flows in AUD and JPY and the stronger technical indicators from the GBP.