EUR/USD - 1.1210

Despite euro's break of Tuesday's 1.1227 low to a fresh 16-month trough of 1.1187 in New York Wednesday, subsequent rebound suggests consolidation is in store before downtrend from 2021 peak at 1.2349 (Jan) resumes, however, near term loss of momentum should keep price above 1.1139.

On the upside, only a daily close above 1.1227 confirms a temporary low is made and risks stronger retracement to 1.1260/70.

Data to be released on Thursday:

New Zealand imports, trade balance, exports, Australia capital expenditure, building capex, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer sentiment, Italy trade balance.
U.S. Market Holiday and Canada average weekly earnings.

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