EUR/USD continued higher after Italy’s head of debt said he was not aware of any imminent sovereign ratings downgrade.
The US data wasn’t surprising but the market played wait-and-see before blowing through offers in the 1.3545/50 range to a 1.3556 high.
The spike quickly reversed and that could be a sign of a blowoff top. In addition, EUR/USD is dangerously close to the September high of 1.3569. Even if that breaks, watch for strong offers at 1.3575/80 ahead of at 1.3600 barrier.
