Tomorrow’s docket in the euro area will kick in with the German inflation figures, followed by an annualized measure of the GDP in the first economy. Italian CPI will follow, ahead of a key 12m and 18m auction of Spanish Letras. EMU trade balance figures will close the data front.
At the moment, the pair is up 0.09% at 1.3375 with the next resistance at 1.3487 (2012 high Feb.24) ahead of 1.3491 (50% of 2011-2012 decline) en route to 1.3550 (high Dec.2 2011).
On the opposite side, a drop beyond 1.3336 (low Jan.14) would target 1.3249 (low Jan.11) and then 1.3192 (MA21d).