Not much going on? Check the order book for some easy pickin’s. A group of small stops below the 134.40 level was just picked off in the last few minutes as longs head to the sidelines, disappointed that they did not get more bank for their euro despite a nice rally in US equities today. The risk trade is looking a bit less cohesive today after several days of very high correlations.
Modest further support is seen in the 134.20 and 134.00 areas on dips while more significant uptrend support sits at 133.60. 135.05 is resistance intraday, forged in shortly after the open on Wall Street as stocks began their early surge.
