US equities have pulled back below 1100 but are well within striking distance for a late day surge to a fresh closing high for the year. If that is achieved, look for traders to feel emboldened overnight that EUR/USD is building a higher base in the 1.4940/50 area.
1.5050/60 remains the key topside hurdle in the session ahead with barriers rumored every 50 pips up beginning at 1.5100. Some have barriers struck as low as 1.5075, though we can’t prove it.
