EUR/USD down at 1.2710 from a North American close Thursday up around 1.2820, having been as low as 1.2686 in active European trade.
The sell off accelerated when well-noted stops through 1.2735 were finally tripped.
There are reports the Swiss Nationa Bank was a notable seller of EUR/USD today.
Real money, proprietary purchases below 1.2700 have lent some much needed support.
In the wake of todays’ price action, guess Mr Taylor at FX Concepts is feeling rather satisfied after his comments yesterday.
Given the importance attached to 1.2735 on the way down, would suspect buy stops probably placed not far North of there.
