EUR/USD met strong support at $1.1250...>

EURO-DOLLAR: EUR/USD met strong support at $1.1250 during Thursday's trade, the

rate challenging the level twice before it pushed to a recovery high of

$1.1310(aided by release of weaker than forecast US Retail Sales), meeting

resistance into the broken trend support line drawn off Nov12 low. Sharp

pullback found support at $1.1265, bounced to $1.1303 before it settled around

$1.1295 into the close. Consolidation continued in Asia with rate contained

within a relatively narrow range of $1.1283-97. Asian traders have mentioned

option interest as providing support, notable option expiries today seen at

$1.1200(E1.01bn), $1.1250-60(E1.2bn), $1.1270-80(E1.37bn), topside at

$1.1365(E1.11bn). 

- Support seen at $1.1280, $1.1267 ahead of stronger level of $1.1250(YTD low

Feb14). Resistance $1.1310/12, $1.1340/50.

- Worth mentioning, Spanish PM Sanchez called an extraordinary cabinet meeting

for Friday morning. Many expect him to announce a snap election afterwards.

- EZ focus today turns to EZ trade balance, as well as remarks from ECB's Coeure

& Angeloni.