Eur/Usd broke 1.1700 as anticipated. Possible upside from here..

The Buck is off best levels, but remains firmly bid after the index extended its rally beyond 94.500 and closer to the next significant upside target, at 94.634 (March 9th high) vs 94.601, so far. Weaker than forecast initial jobless claims for NFP survey week did not derail the Greenback for long, if at all, given the wider implications for risk sentiment and latest Fed commentary chiming with the generally cautious tone. Indeed, Rosengren reiterated that the US is a fair distance away from reaching full employment, with headwinds hampering efforts and progress towards the new official policy objective. For the record, new home sales were considerably stronger than expected and the Treasury curve unwound some of its mild bull flattening ahead of the 7 year auction to keep the Dollar elevated. Eur/Usd broke 1.1700 as anticipated. Possible upside from here...