A number of soggy US earnings reports along with no news from the EU summit has prompted a late week shift toward risk aversion among market players.
Also helping pull EUR/USD lower are reports of upwards of EUR 2 bln in plain vanilla options expiries of 1.3040/50 strikes at 14:00 GMT this morning. History shows that large expirations can have a gravitational effect on prices (even if Gerry doesn’t believe it. Gerry doesn’t believe in gravity, period.)
Support comes in around 1.3015 and again at 1.3000 on the hourly charts.
