US share prices are well off session lows with the S&P down less than 1% after falling 1.6% in early trade. Strong bids in USD/JPY around the 99.00 level helped spark a bounce in the cross as EUR/US also got a boost by the steadier tone on Wall Street. Central bank purchases and technical support at 1.3228are helping as well. 1.3285/90 is resistance on rallies in EUR/USD near-term while the cross sees resistance at 132.05. We trade now at 131.70, up from 131.27 lows.
Trend support for the cross comes in at 130.78 on the daily charts.
