*Dec7 euro-dollar open $1.1796,........>

EURO SUMMARY: *Dec7 euro-dollar open $1.1796, range $1.1793 to $1.1809

*Euro-dollar opened in Asia toward the lower side of the $1.1781 to $1.1848

range witnessed yesterday, where a firmer greenback and heavy supply in

euro-yen, placed the single currency on the defensive.

*As the narrow range would indicate the Asia session was a lacklustre affair.

Euro trekked between $1.1794 and $1.1809, held hostage to large option strikes

that surround the $1.18 handle

*The hourly low at $1.1781 provides initial support, while hourly resistance is

seen at $1.1835.

*In options space, nearby strikes rolling off today at $1.1750(E975mn),

$1.1800(E1.09bn) and $1.1865-75(E949mn) should help to contain the near-term

range.

*German Industrial Production provides the initial event risk for the session

ahead, which includes EU Q3 GDP.