EUR/USD has been very heavy all day in Asia. The weekend chatter about the problems in Spain and Italy continued (still … ).
EUR/USD ran into bids around 1.3480/85 but reactions higher were very limited … almost non-existent. Price behaviour points to more selling to come, but it would seem the market may well have built some shorts during the Asian session so some sort of initial relief rally might be on the cards.
There are offers around 1.3520, bids around 1.3480/85.
Stops below 1.3475 and again below 1.3440.
EUR/JPY stops below 124.20.