Very quiet ahead of the London close and flows dwindled quickly and within an hour or so of the payrolls report, traders say, several noting that the key monthly data failed to draw much additional participation from the trading shops that had been sidelined earlier in the week. EUR based at $1.2697 before rebounding and the recovery has been contained to $1.2730 level which had held bids earlier in the day. Trader suspect resistance to emerge at broken barrier strike levels at $1.2750 and $1.2800, as well perhaps at $1.2770 where stops were gunned. Rebound in US stocks seen as a USD positive vs EUR, though could see risk currencies benefit, the EUR not considered to be a member of that elite group these days.
EasyForexNews Research Team