EUR/USD shot straight up during the session as the major central banks around the world have agreed to reduce the costs of swapping Dollars between the banks, and can help alleviate the possibility of another Lehman Brothers kind of event. The pair slammed into the 1.35 area, but failed to stay above it. In fact, at the close – the pair had given roughly an entire handle back in those gains. Because of this, we are even more interested in fading rallies in this pair under 1.35 now.
Written by FX Empire