Almost everyone is bearish on the Euro and there are plenty of reasons to be…however, there is solid support ahead of the 1.32 level, so bears might pause a bit ahead of the Yellen speech tomorrow afternoon.
- 1.3228 = 61.8 % Fibo of the July 2013-May 2014 rally
- Dealers in Asia reported solid bids 1.3220-30
- Option related demand ahead of 1.32 barrier (said to be larger than the 1.33 one)
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