Two days in a row, the US has inherited the dollar at its lowest levels and has had to suffer the inevitable rebounds against the trend. EUR/USD retried the 1.4920 highs briefly but was quickly smacked back down and we’ve spent much of the session in consolidation mode in the 1.4890s. Drawdowns have not been very deep, so even the late-comers to the EUR/USD rally are not feeling much pain as yet.
Small stops are clustered in the 1.4865, juts below 1.4870 intraday support.
