There appears to be some fairly reasonable offers in the 1.2030/40 zone now which covers yesterday’s highs and this morning’s bounce off Asian lows around 1.1935.
The move has partly unwound the oversold look on the charts and will likely open opportunities to reload shorts particularly if the 1.2200 EUR/USD barrier is threatened. Buy stops were triggered up through 1.2000 earlier which might now offer some interim support but unless 1.2100 is breached a retest of the all time lows seen yesterday can’t be ruled out.
EUR/AUD’s sitting at 1.2028
