Since holding the 50% Fibo of the October range of 1.4480/1.5060 at the 1.4770 level, EUR/USD has bounced back to 1.4800. Commodities have proven quite resilient in the face of the extension of the dollar recovery today( oil up $0.75 on the day) while equities have had bouts of weakness but seem to be holding up better than one would have expected given the recent seemingly-lockstep correlation between shares, oil and the dollar.
1.4840/50 is solid resistance on rebounds near-term for EUR/USD. An earlier rally faltered there and 1.4845 was sold support on the way down. Stops from short-term specs will be placed just above 1.4850 now.
