More lows overnight; stops drive trade into next technical support. After all is done today the rate is unchanged from US opens. Option barriers reported on the dip but those are cleared. Model accounts seen selling the rate under the 1.2800 area. Official interest noted traders say but rate continued to sell-off.

OK to look to the buy side now; rotation off the lows will likely signal a near-term bottom. Rate is an absolute screaming buy in my view—I can't see further weakness being ignored by the buyers. Oil two-way spills over into pricing and if oil rallies it might take EURO with it. Traders note stops building above the market along with offers.

Expect more two-way action with upside bias; traders note the rate is finding profit-taking bids on dips so far despite the uncertainty in the market. Traders suggesting that the rate is continuing to trade technically. Traders note official names overnight this time.

EURO/USD Daily

Resistance 3:  1.3300
Resistance 2:  1.3120/30
Resistance 1:  1.3060
Latest New York:  1.2832
Support 1:  1.2735
Support 2:  1.2660
Support 3:  ?

Data due Thursday: All times EASTERN (-4 GMT)

2:45am EUR French Consumer Spending m/m
4:00am EUR Current Account
5:00am EUR Industrial New Orders m/m
9:00am EUR Belgium NBB Business Climate

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