Closed in NY at $1.3247 after trade was contained within a range of $1.3212/67. Rate picked up an early bid tone into early Asian dealing, the rate edging to an early high of $1.3255 before dropping back to $1.32312 as rate tracked Aussie’s dip that took out option barrier interest in this pair at $1.0600. Reversal in Aussie was quick, the recovery taking EUR/USD to an eventual high of $1.3265. Rate then settled between $1.3250/60 ahead of the European open, currently trading around $1.3258. Traders note offers remain in place above $1.3270, while bids seen positioned into $1.3210 and provide the near term parameters. Greece concerns pushed into the background but still visible and causing some paring back of risk positions. A very quiet session through Asia and with a fairly light calendar for Thursday trade could remain within recent parameters. Germany Ifo due at 0900GMT will provide the morning focus, some suggesting that Wednesday’s improved Belgium business confidence could indicate an improvement in Ifo.
EasyForexNews Research Team