Short-term traders sitting with EUR/USD longs are lightening up, surmising that if EUR/JPY is going to make fresh lows there ain’t much point in holding onto EUR/USD longs that were likely going to square up ahead of the weekend.
Traders note some dip buying from central banks around present levels at 1.2935. Some of them faded rallies just like a large percentage of spot jockeys in recent days.
Support comes in at 1.2920 near-term with more at 1.2890. A break of 1.2890 will likely set off a more significant wave of long liquidation.
