FXstreet.com (Barcelona) - After being strongly pressured ahead of the European session, printing its daily low at 1.3425 on the opening and regressing to that area via plunge post-EMU data, the EUR/USD bounced back to 1.3450, erasing most of the losses.

Italy released its wage inflation figures in December, pointing to a 0.1% monthly rise and an annualized increase from 1.6% to 1.7%. Italian Consumer Confidence dropped from 85.7 to 84.6 in January, despite the rising consensus to 86.0.

Earlier, EMU money supply eased from 3.8% to 3.3% (YoY) in December, instead of rising to 3.9%. The 3m basis registed a rise from 3.4% to 3.7%. Private Loans contracted -0.7% in December (YoY).

Mataf.net analysts point to resistances at 1.3480, 1.3505 and 1.3550. On the downside, supports might be found at 1.3440, 1.3410 and 1.3350.