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EUR/USD seemingly running into sellers ahead of 1.05
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05 right now. That is especially the case, as it was only some 10-15 points below that level when the US sales data hit the screens. Well, it is trying to break above 1.0500 as I write and just ahead of the some further US economic data on industrial production and capacity utilisation. So, that data has just been released and it has been rather mixed and hence not consequential. The EUR/USD has just edged back a little after just managing to print a trade at exactly 1.0500. So, it is safe to conclude; there are quite a few sellers around that level for the time being. The EUR/USD is right now at 1.0496
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