EUR/USD made its low very early in the US session and the fear now is that the market is short in the proverbial “hole”.
Keep a short leash on intraday shorts. A move back through 1.3535/45 will likely kick off heavier short-covering.
Traders report steady buying this morning from the BIS, middle eastern accounts and a big Swiss private bank that tends to “play the edges”, so beware.
