After a short re-test of the region underneath the 1.12 handle on Wednesday, the EURUSD pair has managed to recover some calmness and is currently posting some gains above 1.1210.
Buyers scarcely guarded the near term bullish bias during night with some help from support around 1.1185 however so far they’re not persuading of any further retracement today. Also, there are large expiries resting at the 1.12 handle so that could have an influence in attracting in price action.
The key event for the EUR will be the release of the Euro-zone manufactring PMIs for April however they are final data so any effect should be quite muffled. This followed by some US economic data – the weekly report on the labour market along with Challenger Job Cuts and Factory Orders, might create some trading opportunities.