The release of much better than expected German April factory (manufacturing) orders, and European stocks continuing to claw back lost ground, has helped EUR/USD extend it’s rally.
We got as high as 1.1991 where the euro bulls duly ran into the aforementioned sell orders at 1.1990/00. Hedge funds are said to be among those with a selling interest in said area.
Still no real confirmation where buy stops are gathered, although I’d hazard a guess through 1.2010.
We’re presently back down at 1.1970.
