The pair, which has repeatedly failed to sustain a move above 1.2100 since late September has paused at 1.2102 and tentatively looks like it is experiencing some downside pressure. Forex Ticket analysts are neutral on the pair as we head towards the US session and see spot ranging between 1.2110 and 1.2090 with extended support and resistance to be found at 1.2140 and 1.2075.
With the European economic calendar finished for the day, the US agenda has come into focus with MBA Mortgages at 11:00 GMT, ADP Employment Change at 12:15 GMT, a Presidential debate at 13:00 GMT and ISM Non Manufacturing PMI at 14:00 GMT.
European Equities are currently edging into positive territory, with US futures mixed and commodities holding a downside bias. Critical European yields are down and stable.