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EUR/USD benefitted from the weaker......>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD benefitted from the weaker USD on Monday, consolidating
above $1.1700 during the latter part of the session, last $1.1710.
- The cross' break higher through the initial 1.1706 resistance has provided
EUR/USD will renewed constructive signals, supported by intraday indicators,
putting the focus back on the top end of the triangle formation that has defined
trading since mid-June. The triangle resistance is now place at 1.1740, just
ahead of Thursday's high at 1.1744. A further break above here would generate a
medium term bullish signal for EURUSD targeting 1.1853 initially. Holding above
1.1668 is required to maintain the current positive intraday picture. A break
below 1.1574 resumes the longer term downtrend.
- EZ CPI & GDP headline the European docket today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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