I guess there are still too many dip buyers choking on long EUR/USD positions to allow prices to rebound much. The Double bottom on the intraday charts looks to have fizzled well below the target of 1.3390/00 and we’ve eased back into the 1.3330s. Given there is probably only about an hours worth of liquidity left in the market before it wraps up for the weekend, If it can’t rally now, it probably can’t rally…
Look for 1.3210/1.3260 for the balance of the session…
1.3235 will be an important level to eye on the close. It is the 61.8% retracement of the 1.2587/1.4283 rally.
