I’m on a Talking Heads jag today….
EUR/USD is flopping around this morning. It traded down to 1.4388 earlier before rebounding ro 1.4430/35 after weak US housing data. Selling at and after the 16:00 GMT fixing has helped push EUR/USD lower in its range once again.
A break of 1.4375/80 is needed near-term to turn the market’s focus back to the base of the recent range. Looks as though protection of 1.4500 barriers may limit the topside in the near-term. We trade now at 1.4397.
