- Obvious target is at 1.2665/80 technical support but bulls will need a premium entry level given current market sentiment.
- Intraday rallies should now be capped below 1.2820/50 in my view.
- EUR/GBP broke technical support at .8445 and selling rallies still makes most sense there.
- EUR/JPY stalled at 120.00 as profit takers emerged again but the rallies are getting weaker.
- Heavy EUR/AUD selling has been noted from Asian real-money funds.
- Cable and AUD/USD look a bit toppy near 1.5250 and 1.0500 respectively, putting even more pressure on EUR/USD.
- Cypriot banks open later tonight with strict rules already in place regarding withdrawals.
