30 January 2012 at 9:23 GMT
Little to go by as we walk in today, with yet more (unsurprisingly) failure to come to any Greek conclusion on Friday (as we had been promised). Rolling over into the EU summit beginning in Brussels today, the market will once again be looking for headlines between power naps and treading carefully coming into month end upon us tomorrow, with more chatter of whether this will bring net USD sales or purchases as global managers look to rebalance hedges.
On the day little on the data front outside of US core PCE, spending and income prints. A couple of peripheral bond auctions should keep the market slightly more interested, but with the ECB firmly on the bid now for over 2 weeks I wouldn’t expect too many surprises.
With regard levels today, well, ranges remain in play and perhaps may be a little tighter intraday today.
Looking at the following today:
EURUSD: Has support at 1.3130/10, with some light stops below and looks a little heavy this morning with perhaps those stops in target before a turn around after lunch. The topside has offers coming in above 1.3200 but these are light for now.
AUDUSD: Having already corrected a long way from its lofty heights of last week, good bids are said to be sitting around the 1.0525/30 level, stops below the 1.0490/80 level and some headwinds coming in around the 1.0680 level.
EURJPY: Also having come a long way, bids are sitting around present levels (100.70/80) with stops just under the 100.30/35 level.
Little else to go by today folks, if in doubt read my piece from Friday and don’t be too eager to push any buttons.