Into European trading and EUR/USD failed to overcome the 1.3210/15 area to leave the downside open for exploration. Weak Euro Zone numbers aided the move lower but into early North American action and the stops below 1.3175 remain intact. Above it is the 1.3220/35 resistance zone that will be key to further topside actions with 1.3222 the high from yesterday while official sell orders are now seen trailing back into the low 1.3230's.
On the options front, expiries are noted at 1.3175 in decent size. US data at 12:30 GMT comes in the form of February Import and Export numbers with Q4 Current Account data also set for unveiling. Following this the only other significant event risk is Jan Transport Service numbers (15:30 GMT).
Looking ahead, central band and reserve manager bidding into 1.3155 and the stops below 1.3150 are seen as the key intraday downside triggers but should this area of support stay intact then a retest of 1.3220/35 initial resistance zone is expected with any eventual break higher eyeing a return towards the 1.3260 level then the 2007 high at 1.3296.
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