There are lots of events on tap tomorrow that can impact the forex market in a major way. Today, we just have the Beige Book left to contend with and that is likely to be more of the same (moderate recovery with soft employment). Therefore, we may may react to other markets today and resume the lead position tomorrow.
Tomorrow we get service sector PMIs, the ECB meeting (where the market will be eying the monetary exits), jobless claims and Bernanke’s confirmation hearing (which is sure to be contentious).
EUR/USD support comes in near-by at 1.5065; resistance is up at 1.5110/20.
