EUR shorts are being dragged out and shot as the weekend approaches. Higher German yields, a still hawkish ECB and a central bank-led rebound in EUR/JPY have all conspired to send EUR/USD to its highest levels since early November.
The buying at this stage is “gotta buy” rather than “wanna buy”. Don’t fade this strength unless you are willing to sit through a test of 1.4280…
1.4145/50 is support now on pullbacks.
A break of the November 4 low in the dollar index is the latest source of dollar weakness. 75.45.50 is next support in the DXY.
