1.2400 prints and deals in multiple directions but as yet no push higher. Dealers cite the inability of EUR/USD to break lower as a weight on sentiment towards buying at the highs but there is an upside to going it alone. Should a clear break into 1.2400's be seen then this could act as a weight on EUR/USD and buying ahead of the EUR/USD spot break will mean getting in ahead of the game as the move higher is widely expected to accelerate towards 1.2430 once 1.2980 is removed.
Add to the equation the bounce in EUR/CHF and the Franc looks under pressure across the board. The cross has recently jumped back into the 1.61's but 1.6173 still looks a little away.
No comments:
Post a Comment