The European common currency pared some of its earlier gains before the announcement of results of the Portuguese auction that will include the sell of 10-year bonds repayable in 2014 and 2020 today to raise as much as 1.25 billion euros.

Meanwhile, Portugal is under the spotlight because of speculations raised this week that Portugal will become the third euro area country to get an aid from eh EU and IMF.

Tomorrow, Spain will sell five-year bonds worth 3 billion euros and Italy intends to gather 6 billion euros through auctioning bonds due 2026 and 2015, ahead of European Finance Minster's meeting next week.

Data released today from the euro area and Germany gave a boost to the euro after the upbeat announcements yesterday that Japan will buy 20% of European bonds to support highly indebted nations in the region.

Euro zone industrial production exceeded forecasts in November while the German economy expanded 3.6% in 2010 where deficit budget as a percentage of GDP reached 3.5%.

Concerning the euro-dollar pair, it fell on the 4-hour and 1-hour charts to pull the daily candle down close to the daily opening at 1.2980. The euro fell after coming close to strong resistance at 1.3060.

So far, the pair has recorded a high of 1.2983 and a low of 1.2963, while the trading range for today is among the key support at 1.2800 and the key resistance at 1.3200.

Moving to the royal pair, it pared its earlier advance as it fell to 1.5600 pushed down after the data showing that UK visible trade deficit widened in November to 8736 million pounds from the revised 8591 million pounds.

The pair has recorded a high of 1.5599 and a low of 1.5594, whereas the trading range for today is among the key support at 1.5510 and the key resistance at 1.5800.

With regard to the dollar-yen pair, it dipped on the daily charts to 83.14 but facing upside pressure form the 4-hour and 1-hour charts.

So far, the pair has recorded a high of 83.40 and a low of 82.96, whereas the trading range for today is among the key support at 81.05 and the key resistance at 84.25.