Deep south, not just yet

We presently trade at 0.7401, having tested as high as 0.7420 in early European trading .

Noted sellers circa 0.7415 have been filled, with traders now looking for a test/break of the Asian low of 0.7385

NFP will no doubt play its part, but I think its a sell on rallies ( don't you just love that one).

My own take is to be short against the Canadian dollar as this will ease the USD shock post data