After opening on a firm note after improved jobless claims and a rise in durable goods orders, Wall Street has moved into the red (down 0.5%), helping cool the rally seen in EUR/USD early in the session. Treasury yields have edged back up to the 3.65 level in 10s, about in the middle of the range for a wild morning for that market. We have a $26 bln 7-year note auction to absorb later in the session.
Expect 1.3900 to provide support on dips near-term. 1.3955 is resistance intraday.
