EUR/USD opens this morning at the same level as yesterday and the demand on dips continues to astound the bears. The EUR crosses had a mixed night with EUR/JPY breaking above psychological resistance at 120, EUR/CHF also rallying again but EUR/GBP turning sharply lower.
There is major technical resistance in EUR/USD at 1.4280 and talk of barrier options at 1.4275 and 1.4300 but it’s not trading like a pair that’s about to end it’s recent uptrend. I think we may see another test of these resistance levels, more likely during the London session than in Asian trade.
