EUR/USD described as a 'game of two.....>

EURO-DOLLAR: EUR/USD described as a 'game of two halves' as Europe initially

reacted positively to the release of improved final Mfg PMI data and better than

forecast Germany unemployment, which took rate up to $1.1245 only to drop back

below the recent low of $1.1191 to $1.1185 ahead of the NY open. US entry saw

USD reverse all its morning gains and some, EUR/USD rallying to a high of

$1.1275 on the back of better than forecast US ISM data, as well as encouraging

COVID-19 vaccine news (boosting equities,  the risk on factor weighing back on

the USD). Rate steadied around $1.1270 through the 1600BST fix, met support into

$1.1250 post fix. Minor support now seen at $1.1250/45 ahead of $1.1219(61.8%

$1.1185-1.1275) and $1.1206(76.4%). A break below the figure to expose $1.1185,

with stronger support noted between $1.1180/60. Resistance $1.1275, $1.1288,

$1.1300.

- EZ Employment report Thursday though overshadowed by the US NFP (Thursday

release due to Friday holiday in US). US Initial Jobless Claims and Trade

balance at same time. Factory Orders at 1500BST.