Forex Flash: EUR/USD gains from here ‘unlikely’ - NAB (San Francisco) - For a third day, EUR/USD closed in the 1.2815-1.2825 price zone on Wednesday after recovering earlier losses to 3-day lows below 1.2750. From NAB: “We were not at all surprised by the EUR’s recovery Wednesday, but gains from here are unlikely and we could yet ease back until an all-clear next week. 1.2630-1.2875 is the range until then.”

NAB continues: Key for the next move from here, within this range, should be the flash Euro zone PMI’s for Germany, France and the Eurozone later today. Whether services or manufacturing, these are all forecast to come in little changed on October’s final levels. Friday will bring the latest German Ifo survey.”