the eur/usd has been limping sideways most of the day. Anyone think it will cross the 3200 mark?
The dollar seems to have found support around 1.32. It will be difficult to convince buyers to buy more EUR/USD at this level. Especially with a recovery expected in tomorrow’s US retail sales report.
Also check out the latest COT data. Net long Euro positioning is still close to 90,000 and this positioning bias will continue to restrict the potential for Euro gains.