EUR/USD managed to trigger stops above yesterday’s 1.2388 high, reaching 1.2396. Cable overcame yesterday’s highs and is now consolidating above those levels, looking for one last pre-weekend push toward key resistance in the 1.5045/55 region.
Surging oil prices and a relief rally on Wall Street after a deal was finally reached on financial regulation in the US Congress are helping underpin risk trades and due damage to dollar bulls.
Stops are seen in the 1.5060/70 area in cable while resistance in EUR/USD returns toward Monday’s peaks at 1.2467 and 1.2490, soon after the Chinese Yuan move.
I’m sicks as a dog today so I’m gonna take some time to rest…back in an hour…
