With the retail market due to open in 20 minutes, the interbank market has now settled down after the usual stop-loss hunting in very early trade. I believe EUR/USD traded below 1.3210 before bouncing back to its current level of 1.3250. I still think that EUR/USD is in a holding pattern between 1.31/1.39 and I am certainly not going to get bearish towards the bottom of this range. I expect to see volatile range trading for this week, as we await any major developments.