EUR/USD sits at 1.4235, trading pretty steady in early Europe.
The market is seemingly still trying to get it’s collective head around the sharp USD losses racked up in very thin North American trading Friday.
Decent risk appetite, ongoing worries surrounding the US deficit and it’s funding and the status of the greenback as global reserve currency, are some of the factors which continue to weigh.
But having said that, Asian sovereign interest has turned up around 1.4300, which suggests to me that the dollar isn’t going to fall out of bed at the start of the week.
For today technical supports 1.4230 (being tested at writing) and then 1.4200/05, while resistances up at 1.4280/85 and then 1.4305/10.
