With markets thin and volatility high, minor resistance levels like 1.2770 are notable, but don’t expect them to be impenetrable. We’ve fallen over 7 cents this week, so a sharp “dead-cat” bounce could unfold at any time.
We have the vote on the Austerity bill in the Greek parliament today, the vote on the bailout tab in Germany tomorrow as well as NFP from the US…Expect ranges to be wide and liquidity razor thin until the sovereign debt crisis simmers down…
