1.3000 barriers have been wiped away, a major accomplishment for the market making banks that were exposed to options positions with exotic triggers attached.
With that task on the to-do list ticked off, EUR/USD may see a bit of a relief rally over the next day or so. Look for 1.3110/15 to be the first meaningful stumbling block for EUR/USD on rebounds. Minor points are at 1.3050 and 1.3075. Bids are seen at 1.2990 in EUR/USD, traders say, with stop-loss selling eyed below that level.
