The relation trade continues to give ground in late morning. Oil is down more than $2 despite the Iranian unrest and the greenback has strengthened nearly across the board. EUR/USD has fallen to the 1.3775 level thus far. 1.3263 is the measured move objective for EUR/USD in coming sessions if the technical pattern plays out to textbook perfection.
Copper is under intense pressure today as well, a factor in undermining AUD and CAD. AUD trades at 0.7935 and USD/CAD at 1.1360.
