EUR/USD retested its earlier low of.....>

EURO-DOLLAR: EUR/USD retested its earlier low of $1.1351 in opening NY trade

Wednesday only for the USD to come under general pressured thereafter which saw

rate rally to a high of $1.1394. Traders noted that the move picked up stronger

demand into the 1600GMT fix. Loss of momentum saw rate ease to $1.1380 ahead of

the close. Early Asia saw rate recover to $1.1391, the move influenced by the

strong positive reaction in AUD to Australian Jobs data, but was said to have

found some sell interest placed around the 50-dma($1.1390), as well as aversion

to take rate above $1.1400 ahead of today's ECB meeting. Talk in Asia suggested

rate likely to face headwinds through to $1.1410, needing a break of $1.1425 to

boost upside momentum. Rate settled back between $1.1380/90 through the balance

of the session before it came under fresh sell pressure into Europe which saw it

probe below $1.1380 (low $1.1378 38.2% $1.1351-94). A break below to expose

hourly support between $1.1370/60.

- EZ flash PMI's this morning provide a curtain raiser (France 0815GMT, Germany

0830GMT, EZ 0900GMT) ahead of today's ECB meeting (rate decision 1245GMT/ECB

Draghi press conference 1330GMT)