AceTraderFx : Intra-day Market Moving News and Views on Majors

AceTraderFx Nov 26: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
26 Nov 2015 02:00GMT

EUR/USD - .... Euro is in holding pattern in subdued Asian trading as traders are standing aside after yesterday's wild swings.
Despite intra-day selloff from 1.0689 in Europe on Reuters report the ECB is considering other stimulus options at its next policy meeting, the single currency staged a strong rebound from a fresh 7-month trough of 1.0565 New York morning to 1.0642 before moving sideways in New York afternoon.

With no important EZ economic data due out today, euro is expected to trade well above said yesterday's low and stops above 1.0650 is now in focus.
Bids are noted at 1.0610-00 and more below whilst a mixture of offers and stops is touted at 1.0645-50.
More selling interest is reported at 1.0680/90 with stops reported above 1.0700, suggesting buying euro on dips is the favoured strategy.

AceTraderFx Nov 27: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
27 Nov 2015 01:28GMT

USD/JPY - ..... Although dlr brief bounced to 122.73 in delayed reaction to early release of lower-than-expected Japan's inflation data (see 00:23GMT update for details), lack of follow-through buying quickly led to profit taking and dlr eased from said Asian high.

As U.S. market will close early later today in observance to Thursday's Thankgiving Day holiday, intra-day sideways move is expected to continue, however, as early strong rebound from 122.26 (Wed) to 122.94 signals recent decline has made a low there, buying dlr on dips for at least a strong retracement of aforesaid decline is favoured.
Traders reported good buying interest at 122.50 and some stops are touted below there, however, more bids are reported above 122.26 with stops building below there.
On the upside, initial offers are noted at 122.75 and more are seen at 122.95/00 would stops above there.

Data to be released on Friday:

Japan jobs/applicants ratio, unemployment rate, household spending, CPI reports, New Zealand business outlook, U.K. consumer confidence, national house price, Germany import price index, consumer sentiment, France consumer spending, producer prices, Italy business confidence, consumer confidence, EU business climate, inflation expectation, consumer confidence, economic sentiment, industrial sentiment, service sentiment, selling price expectation, Canada producer prices, raw material prices.

AceTraderFx Nov 27: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
27 Nov 2015 02:03GMT

EUR/USD - ....... Yesterday was the 'quietest' day in 2015 as euro only clocked up a mere 28 points range in lethargic North American session due to Thanksgiving Day market holiday. Intra-day move occured at European open when sellers gave euro a bashing at 1.0623 and this action quickly knocked price to 1.0600 which turned out to the session lows for the day and price later moved inside a directionless 1.0609-23 range.

Although short-term short sellers are having a go at the euro in Asia to look for stops below 1.0600, lack of conviction may send euro higher ahead of European open. In the absence of important EZ economic data, euro is expected to move sideways in the near term n perhaps month-end fund flows may move the euro a wee bit more later in the day.

For now, initial bids are noted at 1.0605/00 and more below with light stops touted below 1.0565, however, there is talk of more 'profit-taking' bids near 1.0560-50.
On the upside, initial offers are reported at 1.0625-30 with some stops above 1.0645, however, more offers are touted at 1.0670/80, so looks like range trading would continue for rest of the day.

AceTraderFx Nov 30: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
30 Nov 2015 01:50GMT
USD/JPY - ...... Despite usd's broad-based renewed strength in Asia on Monday, the pair trades narrowly below Friday's New York high at 122.88 due to intra-day cross buying in yen, suggesting range trading inside near term choppy broad range of 122.26-122.94 wud continue.

As U.S. markets will resume as normal after last Thursday's Thanksgiving Day long weekend holiday, traders will pay attention to release of a slew of U.S. data later today, these are Chicago Nov PMI, Oct pending home sales and Dallas Fed Nov mfg business index.

Offers are noted at 122.85/95 with stops reported above 123.00, however, more selling interest is at 123.20/25.
Some bids are noted at 122.60-50 and more below with fairly large stops below 123.20.

Data to be released:

Japan industrial production, retail sales, construction orders, housing start, New Zealand business outlook, Australia new home sales, business inventories, housing credit, Swiss KOF indicator, U.K. mortgage approvals, Italy CPI, producer price, consumer price, Germany CPI, HICP, Canada current account, U.S. Chicago PMI, pending homes index, pending sales change and Fed mfg bus index on Monday.

New Zealand terms of trade, Australia manufacturing index, building approvals, private house approvals, current account, net export, Japan business Capex, mfg PMI, China mfg PMI, non-mfg PMI, Swiss GDP, retail sales, mfg PMI, Italy mfg PMI, unemployment rate, GDP, France mfg PMI, Germany mfg PMI, unemployment rate, EU unemployment rate, mfg PMI, U.K. mfg PMI, Canada GDP, mfg PMI, U.S. Redbook, mfg PMI, construction spending, services revenues and service sector outlook on Tuesday.

Australia GDP, U.K. construction PMI, EU inflation, producer prices, U.S. purchase index, national employment, labour cost, productivity, New York Index and Canada rate decision on Wednesday.

Australia service index, exports, imports, trade balance, China service PMI, France unemployment rate and service PMI, Italy service PMI, Germany service PMI, EU service PMI, retail sales, refinancing rate, U.K. service PMI, U.S. initial jobless claims, mfg PMI, non-defense capital ex-air, durable goods and factory orders on Thursday.

Australia retail sales, Japan consumer confidence, Germany industrial orders, Swiss CPI, Canada labour productivity, participation rate, unemployment rate, employment change, trade balance, exports, imports, Ivey PMI, U.S. non-farm payrolls, average earning, international trade, and unemployment rate on Friday.

AceTraderFx Nov 30: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
30 Nov 2015 02:06GMT

EUR/USD - ...... Although euro staged a short-covering rebound in Friday's New York session from 1.0569 to 1.0605, price came under renewed selling pressure due to usd's broad-based strength in Asia on Monday.
Bids are noted near last Wednesday's fresh 7-month trough at 1.0565 with stops touted below there.
On the upside, offers are noted at 1.0605/15 and more above with stops reported above 1.0645, suggesting selling euro on intra-day recovery is recommended.

Italy & Germany will release inflation data during European session, pay particular attention to German preliminary CPI at 13:00GMT, street forecast is looking for October M/M reading of 0.1% (prev. at 0.0%) and Y/Y reading of 0.4% (previous at 0.3%)

AceTraderFx Nov 30: Intra-Day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
30 Nov 2015 09:45GMT

GBP/USD - ..... Although cable moved sideways after finding marginal fall below last week's 7-month trough at 1.5027 to 1.5015 in Asia n then staged a bounce to 1.5050 in European morning, price fell in tandem with euro n tanked to a fresh session low of 1.5000.

Bank of England showed in a report in European morning on Monday that U.K. mortgage approvals rose less-than-expected last month. BoE said that U.K. Mortgage Approvals rose to a seasonally adjusted 69.63K in Oct, from 69.01K in the preceding month whose figure was revised up from 68.87K.

AceTraderFx Dec 1: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
01 Dec 2015 03:12GMT

USD/JPY - ..... Dlr finally pares intra-day losses ahead of Tokyo lunch session after tanking from 123.28 to 122.64 despite yesterday's cross-inspired rally from 122.69 (Asia) to as high as 123.34 in NY. Traders citing broad-based long usd liquidation as the main reason for the intra-day steep fall.

As dlr has remained under pressure despite intra-day gains in the Nikkei, suggesting near term upmove from last week's low at 122.26 has made a top yesterday at 123.34 and choppy sideways swings are likely to continue and if the greenback continues to weaken versus its major peers, then the pair may ratchet lower in European trading.
Offers are noted at and 122.90/00 and more above with stops reported above 123.35.
Some bids are touted at 122.60-50 and more below with fairly large stops building below 122.20.

Data to be released on Tuesday:

New Zealand terms of trade, Australia manufacturing index, building approvals, private house approvals, current account, net export, Japan business Capex, mfg PMI, China manufacturing PMI, non-manufacturing PMI, Swiss GDP, retail sales, manufacturing PMI, Italy manufacturing PMI, unemployment rate, GDP, France manufacturing PMI, Germany manufacturing PMI, unemployment rate, EU unemployment rate, manufacturing PMI, U.K. manufacturing PMI, Canada GDP, manufacturing PMI, U.S. Redbook, ISM-manufacturing PMI, construction spending, services revenues and service sector outlook

AceTraderFx Dec 1: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
01 Dec 2015 03:27GMT

EUR/USD - ..... Euro also staged a short-covering bounce to 1.0597 due to intra-day broad-based long liquidation in the usd, suggesting choppy trading above yesterday's fresh 7-month bottom at 1.0558 (New York) would continue.

Although range trading is in store until European open, pay attention to a slew of Nov mfg PMIs, starting with Italy at 08:45GMT, then France at 09:50GMT, Germany at 08:55GMT and EZ at 09:00GMT.

Despite yesterday's marginal weakness to 1.0558, traders reported a layer of bids for profit taking have been placed from 1.0550 all the way to 1.0500 and there is market chatter of option barrier there.
Offers are noted at 1.0600/10 and more above with stops touted at 1.0645/50.

AceTraderFx Dec 2: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
02 Dec 2015 02:13GMT

USD/JPY - ...... Dlr moves narrowly in subdued Asian trading on Wednesday following yesterday's intra-day wild swings.
Although the pair fell from 123.28 to 122.64 due to broad-based long liquidation in the greenback is Asian morning, active cross-selling in yen sent price higher to 122.99.
Dlr later pared intra-day loss n climbed back to 123.20 at New York open but downbeat U.S. ISM mfg PMI (U.S. manufacturing contracted in Nov for the first time in 3 years) quickly knocked the pair lower, dlr later tumbled to 122.76 before staging a recovery near New York close.

Although early dovish comments by BoJ's Iwata suggests sideways trading above 122.76 would continue, offers are noted at 123.10/20 and more above should prevent strong gain and price may rachet lower later in the day.
Bids are reported at 122.80-60 area with stops below there.
However, a mixture of buying interest and stops is reported at 122.25-20.

Data to be released on Wednesday:

Australia GDP, U.K. construction PMI, EU inflation, producer prices, Canada rate decision, U.S. ADP national employment, labour cost, productivity, ISM-New York Index, Beige book.

AceTraderFx Dec 2: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
02 Dec 2015 02:40GMT

EUR/USD - ...... The single currency gained respite in Tuesday's trading after hitting a 7-1/2 month trough of 1.0558 on Monday.
Price rebounded to 1.0597 in Asia yesterday on broad-based long liquidation is the usd, euro then climbed to 1.0619 after upbeat German data.
Despite a brief pullback to 1.0585, renewed buying pushed price higher and euro later climbed to session high of 1.0637 after soft U.S. data but retreated briefly to 1.0605 before moving narrowly in New York afternoon.

Range trading below 1.0637 is expected ahead of European open, euro zone will release inflation and PPI data at 10:00GMT. Offers are reported at 1.0635/45 with stop above there, however, more selling interest is touted at 1.0665/75.
Initial bids are noted at 1.0610-00 with some stops below 1.0585, however, traders reported earlier solid bids by macro funds from 1.0560 all the way to 1.0500 and with option barrier at this psychological level.

AceTraderFx Dec 2: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
02 Dec 2015 09:42GMT

GBP/USD - ...... The British pound came under renewed selling pressure versus the greenback after a brief bounce to 1.5081 in European morning n tanked to 1.5057, then lower to a fresh session low of 1.5036 after data showed U.K. construction sector activity expanded at the slowest pace in seven months in November.

Market research firm Markit and the Chartered Institute of Purchasing n Supply said in a report that their U.K. construction PMI declined to a seasonally adjusted 55.3 last month from a reading of 58.8 in October. Market had expected the index to fall to 58.2 in November.

At present, offers are noted at 1.5060-70 n then 1.5090-00 with mixture of offers n stops at 1.5100-10. On the downside, bids are reported at 1.5030-20 n more around 1.5000 with stop just below 1.4990.

AceTraderFx Dec 3: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
03 Dec 2015 02:36GMT

USD/JPY - ...... Dlr moves narrowly in subdued Asian trading after yesterday's volatile price swings.
Despite intra-day cross-inspired rise which started in Asia to 123.20 in Europe n then break of this level following upbeat U.S. ADP employment report and subsequent rally to session highs of 123.68 after Fed Chair Yellen's hawkish comments, broad-based long liquidation sent the pair sharply lower back down to 123.10 before stabilising.

Although sideways trading is in store, as yesterday's sharp retreat from 123.68 signals further choppy consolidation below November's 12-week peak would continue, at least until Friday's key U.S. jobs data, selling dlr on recovery is favoured. Offers are noted at 123.35/45 and more above with stops reported above 123.80.
Initial bids are noted at 123.10-00 with stops below there. However, more buying interest is touted at 122.70-60.

Pay attention to more U.S. data at 15:00GMT n then another public speech by Fed Chair where she testifies before Congressional Joint Economic Committee at 15:00GMT.


Data to be released on Thursday:

Australia service index, exports, imports, trade balance, China service PMI, France unemployment rate and service PMI, Italy service PMI, Germany service PMI, U.K. service PMI, euro zone's service PMI, retail sales, ECB rate decision, ECB press conference, U.S. initial jobless claims, mfg PMI, durable goods orders, and factory orders.

AceTraderFx Dec 3: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
03 Dec 2015 03:00GMT

EUR/USD - ...... Euro erases part of its overnight gain in Asian morning following yesterday's intra-day rally from a fresh 7-1/2 month bottom of 1.0550 (interbank low) to 1.0627.
However, lack of following through buying in Australian morning prompted short-term specs to sell the euro in Asian trading.

Looks like we have seen a near term range set for now n euro is expected to 'gyrate' inside abovementioned New York range until ECB monetary policy announcement at 12:45GMT n then ECB President Draghi's press conference at 13:30GMT.

If Draghi over-delivers in ECB's stilumlus measures, then another round of euro bashing should follow, however, if no major surprise is announced, then euro may jump on active broad-based short covering.

Until then, price may swing after a slew of services PMIs from Italy, France, Germany and EZ are released during European morning.
Offers are noted at 1.0620/30 and more above with stops reported at 1.0650 and more stops are building above 1.0690/00. Bids are touted at 1.0580-70 and more below.
As mentioned in recent updates, there is market chatter of solid bids by macro fund from 1.0550 all the way to 1.0500 and huge option barrier is reported at 1.0500.
So looks like buying euro on dips ahead of Fri's U.S. payrolls is recommended.

AceTraderFx Dec 3: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 03 Dec 2015 02:32 GMT

EUR/USD - 1.0597
Despite euro's intra-day selloff in New York session on upbeat U.S. data and then marginal break of Monday's 1.0558 low to a fresh 7-1/2 month trough of 1.0550 following hawkish comments by Fed Chair Janet Yellen.
Subsequent swift rebound on short covering to 1.0627 suggests a temporary bottom has possibly been made and choppy consolidation is expected ahead of ECB monetary policy meeting.

Above res at 1.0637/42 would bring stronger retracement of recent downtrend to 1.0689 whilst below 1.0550 yields weakness towards next daily chart sup at 1.0521 before prospect of a much-needed correction

AceTraderFx Dec 3: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
03 Dec 2015 06:15GMT

GBP/USD - ...... Cable is nursing loss in subdued Asian trading after yesterday's sharp fall to a 7-month trough of 1.4896. Although traders citing initial wave of selling emerged n knocked the pound from 1.5080 to 1.5033 after downbeat UK construction PMI, intra-day decline gathered momentum shortly after New York open on active broad-based selling in sterling vs eur and yen, then release of robust U.S. ADP private employment data, cable eventually tumbled to 1.4896 after Fed Chair Yellen's hawkish comments before rebounding to 1.4957 in tandem with euro on short-covering.

Looks like cable would find temp. respite, at least in early European trading, however, pay attention to release of key U.K. services PMI at 09:30GMT, street forecast for November reading to come in at 55.0 vs previous figure of 54.9, if actual is weaker then forecast, expect another rebound of sterling bashing but if the reading beats estimate, allow for a modest rebound before sellers emerge.
For now, some bids are noted at 1.4920-00 with light stops below 1.4890.
Offers are reported at 1.4955/65 and more above with stops touted above 1.5000.

AceTraderFx Dec 4: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
04 Dec 2015 02:27GMT

USD/JPY- ...... Although dlr pared o/n steep losses at Tokyo open as Japanese importers bought the greenback, offers at 122.85 checked intra-day bounce, suggesting sideways trading above yesterday's New York low at 122.30 would continue.

Having said that, intra-day broad-based decline in Asian stocks with the Nikkei index falling the most in 1 month in early trading suggests selling the dollar for yen is the way to go, at least ahead of release of the key U.S. jobs report later in the day.

Looking ahead, as market has already priced in a modest hike in the Fed rate at the next FOMC meeting, we reckon not even a robust U.S. payrolls report will be able to move dlr above its November's 12-week high of 123.77.
Initial offers are noted at 122.85 and more at 123.00/10. Some bids are reported at 122.30-20 are with fairly large stops touted below there.

Data to be released on Friday:

Australia retail sales, Japan consumer confidence, Germany industrial orders, Swiss CPI, Canada labour productivity, participation rate, unemployment rate, employment change, trade balance, exports, imports, Ivey PMI, U.S. non-farm payrolls, average earning, international trade, and unemployment rate.

AceTraderFx Dec 4: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
04 Dec 2015 03:15GMT

GBP/USD - ..... Cable finally retreated in Asian trading after yesterday's rally from European morning low of 1.4902 to a 1-week high of 1.5160 near New York close as intra-day 4.35% surge in euro vs the usd triggered broad-based usd's weakness in hectic NY session.

Cable's intra-day pullback from 1.5160 suggests range trading below said temporary top would be seen ahead of release of key U.S. jobs data at 13:00GMT and as street forecast is looking for a decent 200k increase in jobs growth following previous surprise 271k gain, active buying is cable is therefore not expected and position players may look to buy cable on dips if the jobs number is strong.

No U.K. data is due out today, so the pound is expected to follow intra-day swings in eur/usd.
Offers are reported at 1.5155/65 n more above with stops building above 1.5200.
Some bids are noted at 1.5100-80 area with stops below 1.5050.

AceTraderFx Dec 4: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
04 Dec 2015 03:05GMT

EUR/USD - ...... Euro bears are licking their wounds n even the most die-hard euro bears will be eating humble pies instead of Christmas pudding after yesterday's spectacular surge in the euro from a fresh 7-1/2 month bottom of 1.0523 to as high as 1.0981.

Yesterday's 4.34% gain was the biggest single-day rise seen in 6-1/2 years n technically speaking, euro's rally on Thursday marked a 'key reversal' day, so more gains are expected for the rest of this month as early CFTC report showed large speculators built up large short euro positions the most since May, this explains why the single currency was able to rise so much in New York session.
Euro's intra-day pullback to 1.0899 suggests a minor top has been made at 1.0981 and price may probably trade below there as traders are keeping their powder dry until release of key U.S. jobs data.
Before that, we have German Oct industrial orders at 07:00GMT, unless actual reading is much higher than forecast of 1.2% (versus prev.reading of -1.7%), euro bears may hope for an upbeat U.S. jobs report to knock the euro down and then cover their uncovered shorts (pun intended).

Offers (profit taking) are noted at 1.0980-1.1000 are with stops touted above 1.1000.
Some bids are noted at 1.0900-1.0890 and more below, suggesting buying euro on dips ahead of U.S. payrolls report is still favoured.
Report on Fed Chair Yellen's comments which suggest a rate hike at next FOMC's meeting is a done deal. Reuters reported Federal Reserve Chair Janet Yellen, speaking the day before a key employment report, said on Thursday the U.S. economy needs to add fewer than 100,000 jobs a month to cover new entrants to the workforce, setting an implicit floor for the jobs growth policymakers want to see.
Yellen in her testimony was generally upbeat, spelling out how the economy has largely met the criteria the Fed has set for its first rate hike. Unemployment is low, growth continues at a modest pace, and Yellen said she is confident inflation will return to the Fed's target over time.

Though weak global growth remains a drag, she said the United States is far more dependent on domestic consumption and investment which, at least so far, is strong enough to produce growth that is slightly above trend.

The Fed's first rate hike, expected to be 25 basis points, will start what is expected to be a slow cycle of policy tightening that may see rates remain below normal for years to come.
Yellen noted that one reason not to delay a rate hike too much longer is to avoid the need for faster increases that could be more disruptive to the economy than the gradual rate path policymakers prefer.

The Fed's job is already challenging, given the moves by other major central banks to continue easing financial conditions. Such a divergence could pose a drag on U.S. growth by pressing up the value of the dollar beyond its already high level.

Yellen thought markets have largely priced in the separation between financial conditions among the world's large economies.

AceTraderFx Dec 7: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
07 Dec 2015 01:19GMT

USD/JPY - ....... Despite Friday's swift retreat from 123.38 to 122.72 in volatile trading post the release of U.S. jobs report, the greenback found support and rebounded to 123.29 in New York afternoon before easing.
Renewed buying in New Zealand today has pushed price higher n the pair continues to trade with a firm undertone in Tokyo morning.

Since there is no major eco. data due today, price is likely to carry on its trading patter post the release of Friday's jobs data.
Bids are now seen at 122.90/00 and more below at 122.70/80 with stops building up below there whilst initial offers are noted at 123.40/50, suggesting choppy trading would be seen.

Data to be released:

Japan coincident indicator, leading indicator, Germany industrial output, euro zone's Sentix index and U.S. employment trend on Monday.

New Zealand mfg sales, Japan current account, economy watchers poll, GDP, U.K. retail sales, industrial output, mfg output, Australia business conditions, business confidence, China exports, imports, trade balance, France budget balance, exports, imports, trade balance, euro zone's GDP, U.S. business optimism, Redbook, Canada house starts and building permits on Tuesday.

Japan machinery order, Australia consumer confidence index, housing finance, China CPI, PPI, Swiss unemployment rate, Germany exports, imports, trade balance, U.S. wholesale inventories, wholesale sales and New Zealand interest rate on Wednesday.

New Zealand retail sales, Japan survey index, corporate good price, Australia employment, unemployment rate, France non-farm payroll, CPI, industrial output, inflation ex-tobacco, Swiss interest rate, U.K. housing survey, trade balance, BoE monetary policy decision, U.S. initial jobless claims, export prices, import prices, Federal budget, Canada capacity utilization and new housing price index on Thursday.

New Zealand mfg PMI, China, urban investment, industrial output, retail sales, Germany CPI, HICP, France current account, Italy, industrial output, U.S. retail sales, PPI, University of Michigan sentiment preliminary and business inventories on Friday.

AceTraderFx Dec 7: Intra-Day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
07 Dec 2015 02:00GMT
EUR/USD - ....... The single currency retreated to 1.0836 last Friday after Thursday's surge to a fresh 1-month peak at 1.0981. Euro staged a rebound to 1.0888 ahead of Asian open, however, renewed selling there pressured the pair back down to 1.0863 in Asian morning.

Pay attention to the release of Germany industrial output mm at 07:00GMT. Street forecast is for a 0.7% increase vs previous reading of a 1.1% decrease.

Bids have now been lowered to 1.0820/30 and more below at 1.0800/10 with stops building up below there whilst initial offers are noted at 1.0890/00, suggesting near term downside bias remains.
However, position traders should look to buy on intra-day dips for a resumption of recent uptrend.