EUR/USD overcame 1.3500 like it was nothing special, but soon dipped back below that level, trading now at 1.3489. Seconds before the rally, dealers surmised that 1.3500 was going to be a tough nut to crack based on trading in short-dated options which implied that the 1.3500 were quite large indeed.
Within about 10-seconds, the barriers were breezed through with a quick spike to the 1.3504 level noted. 1.3530 is modest resistance on rallies with 1.3580 the next significant high, a top from January 2005. 1.3475/80 bids are eyed on dips near-term.
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