Whatever was knocking around 1.3350 have bee smoked as headline cross Bloomberg that the EU say that the worse than expected Italian GDP data is expected to have a negative impact on public finances.
There’s no clarification of who uttered these comments right now but they’ll come to light soon enough.
Traders report a fresh bout of selling in EUR/JPY has helped EUR/USD lower. Bid in the yen cross at 136.50 are fairly heavy with some decent sized stops if it breaks.
136.20/35 marks a fairly strong support point also but if these stops are really sizeable then the support may not stand up to much.
EUR/JPY Weekly chart 06 08 2014
The 100 wma has folded in this move so far as the euro hits the lowest since 10th November.
EUR/USD Weekly chart 06 08 2014
The next big technical support level is the 38.2 fib of the July 2012 1.2040/1.3993 swing
