Intel’s $7 bln vote of confidence in the US economy along with a drop in wholesales inventories are helping ease risk aversion. EUR/USD surged as high as 1.3032 with short-covering the primary motivation. 1.3093, the Monday high is the next topside target. 1.3026 is the 76.4% retracement of the 1.3093/1.2811 drop; some techcs may keep an eye on that level if EUR/USD cannot establish a toehold above that level.