What can’t go up must come down?
Kinda feels that way in EUR/USD this morning. We pushed higher in equities earlier in the day and now that that asset class has dipped from the highs, EUR/USD has lost some altitude as well.
This is going to be a particularly thin week for market liquidity with many, many players taking one-last holiday before kids head back to school.
EUR/US has pulled back to 1.4388. Next support is at 1.4345/50 where the BIS was a buyer earlier today.
Written by Jamie Coleman