- EUR/USD has bounced off the 1.0520 level and there is talk that sovereign names had demand for Euros at those levels
- However, bears remain in control and the pair didn’t sustain momentum above 1.06
- Offers are reported at 1.0620 and in better size around 1.0680
- Key resistance now at 1.0720, break above that level needed to trigger larger short squeeze
- Price action likely to become more quiet in the next few sessions as traders are waiting for the ECB meeting on Wednesday
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