EUR/USD still seems pretty heavy to me and I am in the sell-rally camp here. There is very strong technical support at 1.4620-30 level but I think we will test this level, perhaps even later tonight in NY. In the meantime, the short term range is 1.4670-1.4780 and I suggest trading the edges of this range. The EUR will as always be buffeted around by cross currents, with EUR/JPY the main factor in Asia. A break above 88.50 in USD/JPY, could lead to some EUR/JPY short covering, and may give EUR/USD bulls a chance to pick up a quick 50 pips. In a nutshell, I’m leaving this pair alone as I’ve got little or no feel for it.