After some small stops below 1.4990 were triggered, EUR finds itself back above 1.5000 on the back of good buying around the 1.4980 level. Traders say they suspect sovereign names buying on dips.
On top there is good selling interest at 1.5050 area that is expected to cap the EURUSD in Asia, with stops above 1.5085.
The move down was triggered by the sell off in GBPUSD early this morning, taking out stops below 1.6300 before finding a base around 1.6265 to claw its way back up. Look for support around 1.6240, resustance at 1.6350/60.
