EUR/USD - 1.1906
Euro's resumption of upmove from March's 4-1/2 month trough at 1.1705 to a fresh 2-week high of 1.1927 in New York yesterday on usd's weakness suggests stronger retracement to 1.1947 would be seen after consolidation, however, loss of upward momentum should cap price below 1.1988/90 today.
On the downside, only below 1.1861/66 would risk weakness to 1.1819/21 but 1.1786/96 may hold.
The euro area countries will release a slew of eco. data, please refer to our EI page for details.
Pay attention to German indutrial outout at European open. ECB President n ECB board member Panetta will participate in the IMF/World Bank Spring meeting.
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