I don’t think many would have believed on Monday morning that the EUR/USD would be struggling above 1.2500 just a few days later but that’s where it is. China is supposed to be protecting a large barrier at 1.2500 in the EUR/USD and there is similar protection rumoured in EUR/CHF at 1.4000. Then of course there is the SNB.
If these levels break during relatively thin ‘risk-off’ Asian Friday markets, it could again get ugly for the beleagured single currency.
Good luck today and TGIF.
