Forex Flash: EUR/USD continues to be well supported – UBS (Córdoba) - An upside surprise in the German ifo index and in the current account of the eurozone disclosed unexpected strength of the region and according to UBS analysts for this reason the euro got pushed higher on Wednesday.

Meanwhile in the US, housing data was fairly in line with expectations as statements that a deal on the fiscal cliff discussion should come soon, continue to hit newswires. "These hopes lift risk taking and therefore also support EURUSD nicely. The positive trend is likely to continue into the weekend", UBS said.