Eur/Usd: Asia open $1.1759, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1759, range $1.1733-70. Europe open $1.1736,

range $1.1711-41.

* Recovery off Wednesday low of $1.1689 extended to $1.1770 in early Asia, the

move up seen on Tokyo demand for Eur/Jpy into fix.

* Rally ran into reported profit take/momentum players sell interest which

countered. 

* Rate reversed tack and fell away to $1.1732 ahead of the European open. 

* Rate touched $1.1741 at the Europe open then continued lower, touched an

initial low of $1.1716. 

* Recovery to $1.1735 proved short lived as Eur sales emerged, led by Eur/Gbp

then Eur/Jpy, which pressed rate to $1.1711. 

* Recovery efforts off this low remained shallow and were seen keeping focus on

the downside.

* Bids reported into $1.1700, a break to expose Wednesday low of $1.1689. Strong

demand then noted into $1.1680.

* Traders still look for opportunity to buy deeper dips into $1.1650/25.