Source: DailyFX.com
Heading deeper into the North American morning and EUR/USD still sits close to the 10-HMA line at 1.3402. Coincidentally option dealers note the 1.3400 option expires for the impending NY cut at 15:00 GMT, that could gravitate spot prices into the cut-off.
USD/JPY might be extending its sell-off but this is adding pressure to EUR/JPY so for the moment there is little need for the headline pair to snap any higher. Should EUR/JPY again fail to break below 120 then this will add upward potential to EUR/USD into the European closes.
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Monday, January 12, 2009
EUR/USD: Still Pivoting 1.3400 Option Expiry & 10-HMA Line...
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