EURUSD back down to 1.2200 after an overnight sortie to 1.2300
Last night’s run into 1.2300 looks more and more like a barrier/stop flush as we trade down to 1.2197. Yesterday we ducked under the big figure by a handful of pips. We’ve pretty much matched the low yesterday and there is some wriggle room down to 1.2185/90 before thinking about seeing a deeper move south.
We’re not seeing much of a driver from the dollar side of the trade and the euro is looking soft in the crosses. EURJPY and EURGBP are both on session lows.