That’s a technical term…
Upon breaking below the $1700/05 level, spot gold has fallen all the way to $1690.
EUR/USD is finding good two-way interest in the 1.3320/25 area. If Gold continues to slide look for the sellers to win the battle in EUR/USD.
We’re having a classic risk-off reaction minus JPY strength after Bernanke stopped filling the proverbial monetary punch bowl today.
