The threat of some significant buying interest at 1.3925 has dulled the bear’s appetite for risk and shorts have continued to book profits on the EUR/USD, with the pair back again towards 1.40. Dealers report a mixed bag of selling interest and trailing stops above the figure. The previous high/low pivot at 1.4050/65 should prove a more substantial obstacle and frustrated longs will undoubtedly start easing out of their positions if that resistance holds.
EUR/USD clawing back lost ground
Source: www.forexlive.com
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