Former 1.4195/1.4205 support now keeping a lid on

EUR/USD’s short-covering rally ran into fresh selling from stale longs on the rebound to the former area of support between 1.4195 and 1.4205. We’ve eased back to the 1.4170 area thus far. With any luck we settle into a consolidation in the 1.4140/90 area in thin Friday afternoon trade.

Barring any secret meetings in Luxembourg tonight, of course…