Market Moving News: EUR/USD - Jan 22

By IBTimes Staff Reporter | January 22 2010 1:13 AM

EUR/USD - 1.4135.. The usual daily ritual of euro bashing seems to have stopped today as market is overall short of the single currency after recent selling spree which started exactly a week ago. Euro has been trading with a biddish tone in Asia, suggesting buying on dips may well give more mileage to the upside than selling for a re-test of 1.4029 as rumour some big players are actively protecting an option barrier at 1.4000. Although traders are still looking to sell euro on rallies, some stops are slowly bulit up abv 1.4160/70 but 1.4218 (prev. low) looks like a no-go area for the euro bulls for now.

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