EUR/USD has recovered it’s poise somewhat, presently up at 1.4595 having earlier posted a session low 1.4552.
The euro was pressured by comment from EU’s Almunia, that Eurogroup will discuss the euro’s appreciation to prepare its position for the G7, and by very disappointing German retail sales data.
A comment from the Austrian Finance Minister that Eurogroup to discuss currency volatility but has no signal for G7 has helped the euro steady. Also aforementioned talk of buy orders down at 1.4550 will be helping prop up the EUR/USD pairing.
Trailing resistance now initally at 1.4600.
