Wednesday's pullback from early Asian...>

EURO-DOLLAR: Wednesday's pullback from early Asian highs of $1.0991 saw rate

touch a low of $1.0857 before it recovered to $1.0939. Rate closed the day

around $1.0910. Weak US Retail Sales and Empire State Mfg data was seen weighing

on risk which has provided the USD with general buoyancy. This risk off USD bid

tone continued through the Asian session and allowed EUR/USD to ease down to

$1.0865 (making a show below a rising trend line at $1.0870, drawn off the

$1.0636 Mar23 YTD low). Rate recovered into Europe to $1.0888 before settling

around $1.0880 into the new session. 

- Final Germany CPI  and EZ IP provide morning data interest ahead of US Weekly

Jobless Claims, Phila Fed and Housing Starts at 1230GMT. Fed Bostic, Williams

and Daly due to speak later.

- Support $1.0870/65, $1.0857/54(Apr15 low/61.8% $1.0769-1.0991) ahead of

$1.0830/20. Resistance $1.0911, $1.0939.

- MNI TECHS: EURUSD sell-off follows inability to convincingly clear Tue $1.0987

high and potentially ends the recovery phase between Apr6-15. Break of $1.0857

exposes $1.0769(Apr6 low).