Rate managed to stretch up to $1.1403...>

EURO-DOLLAR: Rate managed to stretch up to $1.1403 in late NY trade Tuesday, the

move seen on a mix of cable strength and general USD softening, seen as a

reaction to Fed Powell comments(viewed dovish though not as dovish as some had

been forecasting). However, resistance above $1.1400 restricted any further

build($1.1402-07 50% 1.1570-1.1234/61.8% 1.1514-1.1234) before rate eased off to

$1.1389 into the close. Rate touched an early high in Asia of $1.1395 before it

began to drift lower. Risk lost some of its recent glow on reports of Pakistan

shooting down two Indian jets over the disputed Kashmir region, with fears the

situation could escalate further (India and Pakistan both have nuclear weapons).

Rate touched $1.1375 in late Asia with early Europe extending the move slightly

to $1.1373. Rate currently holds heavy at writing.

- Support $1.1367(61.8% of Tuesday's recovery from $1.1345 to $1.1403),

$1.1345/37. Resistance $1.1400-10.

- ECB Coeure & Weidmann will provide some central bank rhetoric later today. 

- EZ data focus; Thursday French, German & Italian CPIs as well as French GDP.

Final PMI data from across the EZ due Friday.