EUR/USD is way out of the spotlight for a change, quietly consolidating the big gains posted yesterday. Pullbacks have been quite shallow thus far, not even reaching the 23.6% retracement of the week’s 1.2680/1.3033 range.
Bids are eyed in the 1.2950/55 area on pullbacks. Interbank traders were consistent sellers into strength yesterday and those traders who have not already been stopped out will likely be pretty quick to cover shorts on any substantial dips.
EUR/USD trades now at 1.2983.
