Moving forward to Friday, risk trends will be put to the test, as China will release its GDP figures for the fourth quarter as well as retail sales and industrial production. The euro zone docket would be almost non-existent, as only Italian industrial orders/sales are due. Across the pond, the preliminary print of the Reuters/Michigan index will be the most important event.
The cross is now up 0.72% at 1.3383
Next resistance levels lie at 1.3396 (Upper Bollinger) followed by 1.3487 (2012 high Feb.24) and then 1.3491 (50% of 2011-2012 decline).
On the flip side, support levels are located at 1.3249 (low Jan.11) ahead of 1.3221 (MA21d) and 1.3204 (MA10d).