EUR/USD has convincingly broken through resistance in the 1.3925/30 region and has sprinted to the 1.3975 level. There comes in the 38.2% retracement of the 1.4337/1.33747 decline. A break targets a further rally toward 1.4045, the 50% retracement of the same drop and where there are also a few hourly highs.
The reflation trade is rebounding nicely, particularly the commodities leg. Oil is at $71.05 from $69.00 lows. USD/CAD is at 1.1290 from 1.1445 and AUD/USD is at 0.7970 from 0.7850 lows,
