EUR/USD: Modest Profit-Taking; Now the Hard Part Begins

EUR/USD reached 1.3635 in the wake of the poor US housing and consumer confidence data. It looks like the easy money has been made for the move and now dealers will have to contend with protection of barriers at 1.3650 and natural sellers ahead of the record highs at 1.3667. 1.3610/15 is first support on dips with plenty more at 1.3580/85.