EUR/USD: Tech Traders Back Off Due To Technicals

Momentum accounts are paring back intra-day shorts initiated after the second NFP revision shoe dropped, as oversold indicators on the day traders charts started flashing red. RSI on the 5-minute study dropped to 12.5 at the low, and is still hovering below 25.0. Interbank traders report seeing good buying from leveraged accounts and momentum accounts between 1.2685/95.