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Today’s action a little counter-intuitive

By   || February 8, 2010 at 16:17 GMT
|| 0 comments || Add comment

Those expecting a package to save Greece over the weekend were disappointed, but the fact that were were unable to push lower has to be taken as a sign that the market has gotten a bit one sided.

EUR/USD sellers are seen at 1.3715 and again at 1.3740/50 but stops are seen above each level, the latter in good size.

As noted in the comments, AUD/USD is approaching key resistance in the 0.8715/35 area. A sustained break above the latter level should see some follow-through short-covering.

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