EUR/USD sits at 1.4890, where it was when I entered the fray just over 5 hours ago. We’re effectively seeing consolidative range trade after yesterdays sharp sell-off.
As mentioned earlier, and by way of a recap, buy orders seen down at 1.4840/50, some sell stops just below 40 and then further buy orders down at 1.4815/25. As is usually the case, sovereign buy interest mixed in among the buy orders.
On the upside, sell orders remain at 1.4940/50. Asian sovereign selling at 1.4915/25 was seen earlier and market may well be looking for renewed interest to surface on any extended rally back over 1.4900.
