1.3500 and 1.3550 have been added to the growing list of milestones EUR/USD is passing as it maintains its upside trajectory. 1.3608 is the next target, the 50% retracement of the spike to 1.4866 after the Lehman collapse to the 1.2330 decline after stocks went down the proverbial drain in October.
Firmer commodities, the ability of equities to rebound despite ample bad economic news globally and US-specific jitters over excessive policy action by the US and UK relative to Europe are helping support the single currency. 1.3500 is minor support on pullbacks near-term.
