Talk of expiring barriers at 1.5150 this morning will give the writers of those options ample incentive to knock them out if they get an assist from some upbeat US employment data. Asian central bank sales are rumored on the approach, again, and we heard reports yesterday of medium-term spec accounts booking profits on yesterday’s visit to that neighborhood.
A break above 1.5150 on a sustained basis opens the way for a 1.5285 test. Should the risk trade be pared-back, support comes in at 1.5030 and 1.4965. Long-term uptrend support comes in down at 1.4917. We trade at 1.4075 ahead of the data.
