EUR/USD sits up at 1.3295 having closed out in North America Tuesday down around 1.3265, and has been as high as 1.3313 during Asian trade. The Fed yesterday set the stage for QEII, stating it “is prepared to provide additional accomodation if needed to support the economic recovery.”
Little in way of euro zone data this morning:
09:00 GMT: Euro zone industrial new orders for July expected -1.4% m/m, +16.2% y/y
European stocks look set to open moderately firmer. DAX around 0.2%, CAC 40 around 0.3% and FTSE around 0.4%.
Fair amount of focus on August’s 1.3334 high. Further stops anticipated north of there. On downside 1.3220 (seen important resistance on way up/ 1.3221 200 dma) is seen as first support of note. Can probably expect stops to be gathered just South of there.