EUR/USD – 1.3548.. Euro is taking a breather in Asia after y’day’s sharp decent fm 1.3693 to 1.3496. Eco. data to look out for are Germany Gfk consumer confidence survey at 07:00GMT n then at 10:00GMT EU industrial orders. Bernanke will testify to the House Finance Services Committee today and the Senate Banking Committee tom, the forex, equity, bond & commodity markets will look for clues to react (we assume his comments will be dovish). Unless euro bears can give the single ccy a hard bashing n penetrate 1.3443 sup later today, beware of a nasty short-covering rally. For now, offers are tipped at 1.3550-80 area but profit-taking bids remain fm 1.3480 to 1.3450. Sell the euro here n take your money n run b4 Bernanke speaks.
http://www.acetraderfx.com
