Boston, June 20.
EUR/USD dipped to 1.2540 in the wake of surprisingly firm US housing data.
Starts actually rose 5% last month despite 11-year lows in sentiment among
builders. Tough to figure, but the anecdotal evidence has not jibed well with
government data for sometime. Central bank buying interest is seen on dips,
making the downside a dicey proposition near-term. Barriers are seen at 1.2525
and 1.2500; offers toward 1.2595/1.2600.