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Forex pairs in this Article » EUR/USD (Barcelona) - EURUSD is currently dealing with fresh session lows around the 1.3572, off recent session highs at 1.3596, same session highs seen in NY, inside this thin 1.3572/1.3596 band since late NY trade, with market already shifting focus to Thursday's ECB meeting, where rates are expected to remain unchanged. The pair is up by +0.49% since previous Asia-Pacific open yesterday, while it is still down by -0.55% for the week so far.

US 10 year bonds regained the 2% level, while European share markets bounced a bit from yesterday's massive sell-offs, with all local share markets now in Asia-Pacific showing green lights, Nikkei index almost a +3% higher, near April 2010 highs. Germany factory orders at 11:00 GMT will be most important risk event for the London session ahead, with not much on offer till next day's ECB and Ecofin. According to Independent Analyst Ivan Delgado: "Clean break above 1.36 allows retest of 1.37. Break higher may have to wait until ECB's outcome later this week," Ivan notes.

Immediate support to the downside for EURUSD lies at recent session lows/London session highs 1.3572/68, followed by Jan 31 lows at 1.3539, and Jan 29 highs at 1.3496. To the upside, nearest term resistance shows at recent session/yesterday's highs 1.3596, followed by Monday's London session highs at 1.3636, and Friday's London session highs at 1.3674.
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