ThI wrote this earlier:
1.3480/1.3500 EUR/USD is a big support zone, there are buyers lining up in that area now and further buying 1.3460/70.
On the topside we’ve sliced through some technical levels in Europe and New York, there is initial resistance now around 1.3540/50 and more selling 1.3575/85.
There is some talk of further EUR/AUD unwinding to be done after the RBA decision. I can’t quite see this myself. The decision is an almost known quantity now. Sure, there could well be some gyrations in the aftermath of 0330GMT, especially if the accompanying statement surprises us, but further selling of EUR/AUD is going to run into bids on EUR/USD around and under 1.3500.
Not a lot to add, but:
- 1.3480/1.3500 bids are being added to.
- Below 1.3480 there are good sized stops
