Oh they’ve been around…All day. But not having much impact.
The BIS was a buyer at the 1.3615 level on the way down. China was on the bid at 1.3590 and again at 1.3575…Not having much luck propping up the once-mighty EUR, it would appear.
Stop-loss sell orders are sen below the 1.3530 level with many at 1.3525, traders say. As we’ve seen so often in the past, when stops are close, the usually end up getting triggered. If looking to buy dips, take advantage of the stop and buy around 1.3515/20.
EUR/USD trades now at 1.3548.
