– Unlike previous periods of intraday weakness in February, the recent decline in EUR/USD was on stronger volume, indicating firm selling interest through 1.35.
– Cable rebounds on strong volume (highest volume above its 1 week average) as trendline support holds firm at 1.5620. Risk is for the market to remain above this level for the time being.
– EUR/AUD bullish interest fades as volume declines and the uptrend takes a breather.
– Unlike rising volumes for USD/JPY in January, the February rally has seen a deterioration in daily volume as the market approaches 95.00.
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Barclays Capital