The market sold a lot of EUR/USD in the 1.1920 area with very little to show for their efforts. The move by the SNB to buy the cross seems to be doing more for EUR/USD than for EUR/CHF, where history shows they will fail… EUR/USD shorts are running for cover now…
EUR/USD is at session highs, running into offers at the 1.1990/00 area. Stops lie in the 1.2010/30 region.
