EUR/USD bounces from 1.0344 to 1.0448 after becoming oversold

Dec 20 low was substantially below base 20-Day Bollingers

Base Bollingers currently 1.0372 - Dec 23 range 1.0424-48 EBS

Traders pared roughly 10% of euro shorts in week to Dec 20

Net short position now $8.6 billion from $10 billion

Shorts large but far from market stopping size ($25bln plus)

Shorts, stretched conditions to slow but not stop a further slide