EUR/USD: US Investment Name Leads Selling

EUR/USD probed below 1.3120 on selling from a powerful US investment house. Prices find support at 1.3116, the 61.8% if the 1.3070/1.3185 rise after breaking the 50% Fibo in the last few moments at 1.3130. The perception is growing that the ECB is at or near a peak in rates after Trichet shifted his verbiage, saying rates are now "moderate". Covering of shorts in the US index is helping undermine EUR/USD, which markets up the largest single chunk of the index, indeed nearly 60% of it. 1.3140/45 is now resistance on rebounds near-term.