The dollar weakened in early European trade Thursday, amid fading hopes for additional economic stimulus while inflation figures surprised to the upside.

Market is short term friendly, pressing the drive to reach 1.1820. Trade is positioned to extend rallies and close over 1.1830 could trigger a couple day blow off. Close under 1.1845 is bearish.

R2          1.1820
R1          1.1800
 

S1          1.1760
S2          1.1741