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Forex Flash: EUR/USD caught in ranges ahead of ECB and payrolls - UBS

The European PMI releases confirmed the unusually strong divergence between strong German growth and a very soft French and Italian growth, says the UBS analyst team. "EURUSD nevertheless stood little changed above the key resistance of 1.30".

"Not even the new all-time high in the Dow Jones moved the key FX rate", they comment. "Markets are eagerly waiting for signals in Friday's US non-farm payrolls and Thursday's ECB meeting".

Forex: AUD/USD hits 3-day high

The Australian dollar finally broke above the 1.0250 resistance area and extended gains during American hours as stocks rally in Wall Street and the Dow Jones reaching an all time high.
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Forex: GBP/USD trades flat above 1.5100

After being rejected by the 1.5200 area, GBP/USD retraced intraday gains and even printed a fresh low of 1.5093, weighed by better-than expected US services-sector ISM. Being unable to define a fresh direction, GBP/USD was confined to a consolidation phase that has extended over the last hours.
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