Yesterday's Yellen appearance hasn't been able to dampen the Euro
spirit and that tells us that a trip to 1.1500 and above is coming. We maintain the sell US dollar
stance mentioned in previous trade idea. Out of those trades, AUD/USD
is now almost approaching the target. AUD/CAD
hasn't been able to fly that well but we will keep it on a tight leash because of possible oil
breakout above 50.
Until something changes significantly, we are dip buyers in EUR/USD