Within A Whisker Of Key Support

EUR/USD has stuck to a sub-15 pip range overnight, last dealing a handful of pips higher, just shy of $1.1690. This comes after the broader USD strength stemming from U.S. equity weakness weighed on the rate on Tuesday, although worries over the debt ceiling and a potential government shutdown in the U.S. limited losses in the cross (which bottomed at $1.1668).

• ECB President Lagarde and Governing Council member Villeroy underscored the central bank's dovish credentials on Tuesday.
• EUR/USD bears are threatening to test key support in the form of the Aug 20 low & bear trigger ($1.1664). A breach there would expose the 1.00 projection of the Jan 6-Mar 31-May 25 price swing ($1.1621). Bulls need to retake the Sep 22 high ($1.1755) and 50-day EMA ($1.1795) to start turning the tide in their favour,
• The most notable FX option expiry of note when it comes to today's 10AM NY cut is as follows: $1.1750 (EUR1.2bn)
• A slew of ECB speak, headlined by a panel appearance from President Lagarde, headlines the European docket on Wednesday, as the central bank's annual forum continues.