EUR/USD has stabilised just above 1.1400, having dropped back from earlier session highs in the 1.1480s.selling has continued into the US trading session, though the bearish intra-day momentum has for the moment eased with the pair finding support above the psychologically important 1.1400 figure. At current levels around the 1.1410 mark, the pair is trading lower by about 0.4% and is over 0.6% lower versus its Asia Pacific session highs in the 1.1480s.
Given the low volumes, thin liquidity conditions typical of late-Friday trade, such a move would likely have to wait until next week. Some might argue that Friday’s fundamental developments suggest a higher EUR/USD making sense. There isn't much by way of tier one US data next week, but if the NY and Philly Fed surveys for January are also sufficiently week, that could back up this argument.