1.3125 barrier in play?

That’s the talk, according to market sources. Perhaps the BIS is protecting that barrier for China. Options protection has been a losing proposition of late as we manager to push higher time and time again. The option may get an assist for the technicals as the 38.2% retracement of the 1.5145/1.1875 decline intersects at 1.3125 as well.

Update: 1.3127 trades. Bye-bye barrier!