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EUR/USD clings to 1.0700 and here is a possible reason why

Yesterday the surge in the US dollar saw the EUR/USD fall back from an earlier session high at 1.0795 to a low at 1.0701. Despite quite a few attempts to break below that 1.07 handle the Euro held firm and if you are a little surprised by that, then you would not be alone. Talking to a couple of contacts yesterday evening, it seems there are some mutterings concerning a possible barrier (digital option) at 1.0700, which has been stoutly defended too it seems. Look, I cannot confirm that is the case, but if it is then there are very few suspects who have the firepower to do that. I will not name names, but leave you to work that out for yourself. So, that 1.0700 handle has held firm again so far today. The  seen has been set at 1.0703. The EUR/USD closed in the US last night at 1.0709. The high so far has been at 1.0717. It is just now trading at 1.0715
 

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