As I mentioned yesterday, there was plenty of evidence in the interbank market of profit taking in the EUR/USD near the previous lows at 1.2870. This demand proved sufficent to halt the EUR/USD slide and help it to rally 100 pips. Nevertheless, with EUR/JPY so precariously poised just above 100.00, the single currency is by no means off the bear-slide just yet.
Gold bounced off $1520, which is where the Asian central banks are supposedly buying, so this level is becoming very important, and ACBs also reportedly bought AUD/USD yesterday near 1.0050.
Good luck today and TGIF.
