Once again, we hear reports of selling into strength from central banks, but EUR/USD maintains a very bid tone at midday in New York. Offers are scattered through the 1.3400 level but buy-stops are tipped just above that level.
EUR/USD has shown the ability to penetrate the 100-day moving average on rebounds but it has not been able to maintain itself above that average for much more than a day or two. Short-term players may want to take some profits by selling into the stops, if they are tripped.
