*Aug23 Euro-dollar open $1.1762,.......>

EURO SUMMARY: *Aug23 Euro-dollar open $1.1762, range $1.1748 to $1.1766

*Euro opened in Asia toward the lower side of yesterday's $1.1745 to $1.1824

range, where US dollar strength was the main theme supported by reports that

Trump's administration was gaining momentum on tax reform.

*Modest dollar strength, led by yen, pushed the rate lower from $1.1766 to

$1.1748. As dollar-yen retreated from the high, euro-dollar inched higher from

around $1.1750 back to $1.1766

*Interestingly, yesterday's Euro slide stalled precisely on support, $1.1745

marks the 50% fib retracement on the $1.1662 to $1.1828 move, a break opens

$1.1726 (61.8% on the same move), while initial hourly resistance is located at

$1.1773.

*Option expiries for today include; $1.1685(E730mn), $1.1700(E455mn) and

$1.1790-1.1800(E1.28bnmn)

*European PMI's provide the event risk for the session ahead, which also

includes a speech from Draghi at 0700GMT from Germany