We’ve seen a fresh wave of buying linked to the 16:00 GMT fixing, sending EUR/USD as high as 1.3391 so far.
Resistance lies now at 1.3400 followed by 1.3440. Use these levels to lighten longs but I’d be reluctant to fade today’s strength. Markets become very, very illiquid at year-end and strategies you could comfortably employ the rest of the year become a bit dodgy when the markets go into machine-driven holiday mode…
