Sharp reversal Wednesday saw rate.......>

EURO-DOLLAR: Sharp reversal Wednesday saw rate trade back from $1.1098 to

$1.1070 before recovering through the 1600GMT fix to $1.1095 into the close.

Into Asia and release of stronger than forecast Australian jobs data boosted the

AUD, initially pushed EUR/USD up to $1.1100 before sales of EUR/AUD dropped

EUR/USD back to $1.1080. Recovery to $1.1091 proved short lived before rate

settled between $1.1081/86 through to the European open. Area between $1.1100-12

holds the strikes of expiring options for today's NY cut, E1.54bln, E1.04bln of

EUR puts. Main focus of the day will be the ECB monetary policy announcement,

ECB President Lagarde's first. Reaction could be fairly muted, no change in

rates widely expected with interest mainly directed toward the upcoming

Strategic Review. EU Consumer Confidence at 1500GMT. Attention on Friday's flash

PMI's. 

- US data includes Weekly Jobless Claims at 1330GMT. 

- Support remains from $1.1080 through to $1.1070 (rising trend support Oct1

edging uop to $1.1074, 100-dma $1.1072). A break to open a deeper move toward

$1.1050. Resistance $1.1100/10, $1.1120, $1.1128/32.