Closed in NY Wednesday at $1.3446 after recovering off a session low of $1.3426, seen into the London 4pm fix. A quiet start in Asia, which saw rate contained between $1.3440/55 in early trade before it extended the base to $1.3431 ahead of the European open. Focus this morning to be on Eurozone GDP Q4 (first read) releases, starting with Germany at 0700GMT through to EZ release at 1000GMT, with US jobless claims to provide the early afternoon interest. Upcoming G20 (Fri-Sat) will also have market wary of comment, headline risk again to the fore to cause possible react moves. Euro-dollar demand seen into $1.3426, with further demand to $1.3420 and stops below. A break here to open a deeper move toward $1.3400 (61.8% $1.3325-1.3520). Resistance $1.3450/60, a break to open a move toward $1.3500 ahead of stronger interest into $1.3520/25.
EasyForexNews Research Team