Break traders have been caught out as bids under 1.3890 have helped the EUR back up to the 1.3920 area. Im being told that the sellers here at 1.3920 are those who bought the dip. Nice range trading for the jobbers. Look for more of the same for the next few hours with a bias to trade back up to this morning’s highs as markets looks towards the German IFO number. There is a median expectation for an improvement in the number to 85 from 84.2.