Looks like the market has concluded that if EUR/USD didn’t make a fresh low on the jump in jobless claims then it just isn’t gonna do it any time this morning. The move back through intraday resistance at 1.3580 has prompted a further spurt of short-covering.
The pop to 1.3625 in London this morning was said to be on the back of Chinese buying and we would not be surprised to hear similar whispers again in New York. Above 1.3625, 1.3655 is resistance. 1.3525 is solid support near-term.
