- 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.