I guess the Asian central banks who were so active on the buy side this morning must have gone into hibernation. EUR/USD has been grinding lower ever since Spanish PM Rajoy ruled out an imminent bailout. Support comes in at 1.2914, the 61.8% retracement of the 1.2880/1.2968 rally. Small stops are eyed below on a break. Larger stops are below the 1.2880 level where we bounced swiftly from in London this morning.
