EUR/USD – Good support ahead of 1.32

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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