Rate continues to hold at support, possible sovereign interest on the bid. Late break with spillover from GBP clears stops under the 1.2700 area and 1.2620/30 area. Possible reversal now in play but the rate needs to firm above the 1.2850 area in my view.

Bids are building under the 1.2600 area as expected; sell-off likely to be bought hard now. OK to try the long side again on a dip. Traders note stops building above the market around the 1.2750 area in size likely to help create some two-way action but initial try for stops misses with a high print at 1.2743 overnight.

Support also from cross-spreaders as they unwind Yen. Rate is an absolute screaming buy in my view—I can't see further weakness being ignored by the buyers. Traders note the rate is finding profit-taking bids on dips so far despite the uncertainty in the market.

EURO/USD Daily
Resistance 3: 1.2950
Resistance 2: 1.2880
Resistance 1: 1.2750/60
Latest New York: 1.2676
Support 1: 1.2580
Support 2: 1.2550
Support 3: 1.2480

Data due Thursday: All times EASTERN (-5 GMT)
5:00am EUR Revised GDP q/q
7:45am EUR Minimum Bid Rate
8:30am EUR ECB Press Conference 

Forex Analysis by Jason Alan Jankovsky at ForexPros.com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check http://www.forexpros.com