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Friday, April 06, 2007
EUR/USD: Profit-Taking, Ray of Data Sunshine Helping Greenback
EUR/USD is seeing some book-squaring after falling short of the near-term goal of triggering 1.3450 barriers. One factor helping give the buck a modest lift in the last few minutes was an upbeat Chicago Fed mid-west manufacturing survey which rose 0.9% in February. 1.3410 is first support for EUR/USD with more at 1.3380. Stops are building below 1.3380, dealers report. EUR/USD trades at 1.3424.
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