Irish banks, Greek debt, Portuguese banks becoming dependent on the ECB…worries that dominated the market at the beginning of the summer are returning after a nice long European holiday, it would appear.
From 1.2920 over the holiday weekend, EUR/USD has fallen as low as 1.2737 and remains weighed down by central bank sales not too far from the lows…
1.2700 is the downside target in the near-term for EUR/USD while resistance is up near 1.2775.
