After an early move up, EURUSD has been quiet and unable to trade up thru 1.4220. A combination of EURJPY sellers and EURGBP sellers has limited the move in Asia. Some short covering and profit taking was seen this morning after Friday’s broad USD move higher.
As Sean mentioned under 1.4100 could see some serious stops triggered for a look at the important 1.4000 level. Until then its buy the dip with good names seen buying at the 1.4150 area on Friday night.
