EUR/USD - 1.2006
Despite Wednesday's resumption of recent decline to a 2-week trough of 1.1987, near term loss of downward momentum would prevent steep fall and reckon daily sup at 1.1943 should remain intact and yield a long-overdue retracement.
Above 1.2035 signals temporary low is in place and may head back to 1.2055/65 before prospect of another fall tomorrow.
On the eco. data front, Germany will kick off with industrial orders, then EU will release economic bulletin n retail sales. Pay attention to speeches by several ECB officials (pls refer to our EI page for details), ECB President Lagarde will speak at a conference organised by European Commision at 11:25GMT.
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