EUR/USD – Short squeeze pre-NFP?

  • EUR/USD is posting fresh daily highs as dealers are seeing some profit-taking flows
  • Not surprising given the sharp decline yesterday
  • Asia reported intraday stops through 1.2970 and they may attract price
  • However, better selling interest at 1.2980 up to 1.30
  • 1.30 the big psychological resistance level now
  • Should we see the stop hunt pre-NFP, topside likely to be capped by 1.2980

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