Strong moves higher overnight in EUR/GBP, EUR/CHF and EUR/JPY have turned momentum in favour of the EUR, in the short term at least. Buying dips would seem to be the favoured strategy whilst this cross action is taking place.
Dealers report bids starting at 1.2750 through 1.2730 which should support at least during the Asian session. Mixed bag on the topside with stop-loss buyers and profit-taking sellers mixed together until we get close to 1.2900 when the sellers start to dominate.
