EUR/USD extended its recovery as........>

EURO-DOLLAR: EUR/USD extended its recovery as market reacted positively to the

ECB monetary policy announcement, the rate pushing above Wednesday's high of

$1.1257 to $1.1272 as ECB delivered an extra E600bln in asset purchases, as part

of its PEPP asset purchase programme, over and above market expectations.

Initial reactive rally was knocked back to $1.1217 before stronger demand

emerged as ECB Lagarde began her press conference. The Bank extended the

duration of purchases well into 2021, the policy shift saw peripheral European

govt bonds soar alongside the EUR, which rallied sharply against most others in

G10. Both EUR/USD and EUR/JPY looking to secure their ninth consecutive positive

session. EUR/USD spiked to $1.1362 into the 1600BST fix, dropped back to $1.1312

post fix but buyers were quick to move in to the dip, edging rate back to

$1.1342 as Europe closed. Technical resistance noted at $1.1367-68-69(Mar11

high/falling resistance off $1.2555/38.2% $1.2555-1.0636), a break to open

potential toward the YTD high at $1.1495. Support $1.1310/00, $1.1270, $1.1250.

Germany Factory Orders Friday at 0700BST, main focus on US Employment Report at

1330BST.