EUR/USD is running into some profit-taking in the 1.4950 region. Traders are reluctant to push too aggressively to the topside and take on the 800 lbs gorilla of the forex market, China, without tailwinds from stocks, gold, etc. The oil rally helped carry it toward resistance, but is not not strong enough, apparently to push traders to make a run for 1.5000.
Most order boards are whipped clean now between 1.4845 and 1.4970 so look for choppy intraday ranges for the balance of the session. EUR/USD trades now at 1.4945.
