EUR/USD dipped through the 200-day moving average at 1.3102 and triggered a few stops taking us as low as 1.3094 before stabilizing. Expect the next 30 minutes or so to see position squaring from market makers as Europe winds up for the day. Expect markets to only thin-out further in the New York afternoon, making for particularly treacherous trading.
1.3125 is minor resistance on rebounds intraday. We now trade at 1.3116.
