There is not too much in the way of resistance until the 1.3030 level posted nearly a week ago.
Now that the stress-test sideshow is out of the way, markets are turning back to a easy summertime strategy that does not require much in the way of deep thought: Risk-on/Risk-off. The risk switch is in the “on” position at the moment though there is rather little conviction in the market. Most of the volume is machines trading with machines, we told.
EUR/USD is now at 1.2980. AUD is still holding just below the 0.9000 level.
