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FXstreet.com (San Francisco) - EUR/USD has traded a modest 1.2840/1.2870 range so far in Asia, last quoted around its 1.2862 starting price and capped below the 20-day EMA. To the upside, resistance is seen at 1.2902 (30 Dec low), with support seen at 1.2817 (10 Jan high).

Wednesday saw "EUR/USD [move] sharply higher from 1.2650 to 1.2800 on the back of the stunning drop in the January German ZEW survey and the better than expected Chinese GDP at 8.9% vs. 9.1% forecast," explains the Easy Forex Team. "Spanish bond auctions were also successful and the yields on longer term Italian debt fell slightly."

EUR/AUD traded up to a 4-day high in earlier trade this Thursday, reaching a session high of 1.2380 as aussie sentiment took a hit on soft and disappointing jobs data. Resistance is seen at 1.2415 (6 Jan low), while buying interest may be found at 1.2350 (intraday level).

However, the selloff seen in EUR/CHF from a recent 4-day high has continued since the start of trading this Thursday, having reached a session low of 1.2073 so far, down from an earlier high of 1.2081.

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