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Eur/Usd: Asia open $1.1809, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1809, range $1.1795-1.1820. Europe open
$1.1808, range $1.1781-1.1810. 
* Corrective pullback from Friday's US CPI react high of $1.1875 extended to
$1.1811, closed week at $1.1820.
* Eur was marked slightly lower into Asia on Spain/Catalan concerns, Merkel
election loss, ECB Draghi/Italy loans. 
* Early Asian trade saw Eur/Usd pressed to $1.1806 as early market hunted for
stops below the NY $1.1810 pullback low. 
* Rate recovered to $1.1820 before it turned lower again, this time extending
lows to $1.1795. 
* Rate recovered to $1.1810 into Europe before a fresh wave of general Eur sales
hit the market. 
* Rate was pressed to an extended low of $1.1781 then settled between
$1.1785/95. 
* US Empire State data at 1230GMT provides early afternoon interest. 
* Support $1.1775-50. Resistance $1.1820. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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