EUR/USD is back up at 1.3545 having earlier tested technical support at 1.3480 (see 10:48 GMT comment) in what are very choppy trading conditions which seem to suggest (to me at least) that the market is a little unsure as to what to do next. There seem to be pretty good arguements for a move in either direction. Personally i think the ones for a lower EUR/USD are a little more compelling, but hey that’s just me. A period of consolidation might well be in the cards.
EUR/USD will be garnering some suppport from a rally in the EUR/GBP cross which is presently back at up at .9230 from a .9173 session low.
