Mr. Market is a lot like Gerry today. He has moments of inspiration, but soon he sinks back into a funk.
We had a moderate risk-on rebound after the upbeat ISM figures but we’re now giving back those gains.
EUR/USD had little luck getting back above the 1.3300 level and AUD/USD rally was short-lived. USD/JPY, in fact, is making new lows on the day.
1.3278 is near-term support for EUR/USD with more at 1.3251. Small stops are seen around 1.3275 with more below 1.3250.
