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Eur/Usd: Europe open $1.1868, range....>

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Europe open $1.1868, range $1.1842-77, NY open $1.1866,
range $1.1813-67
* Usd demand into early Europe extended the corrective pullback away
from the rate's Asian high of $1.1877 to $1.1863, holding just off its
opening Asian low of $1.1862.
* The Usd showed signs of demand as traders reported that hedge fund interest
has recently begun to show Usd appetite though so far meeting real money supply.
* Sharp bounce back from its Europe low of $1.1842 saw rate
regain much of the earlier losses and reach $1.1874 before fading.
* Rate dropped from recovery highs of $1.1874 to $1.1849 as USD strengthened and
the NY session got underway.
* The pair declined to intra-day lows of $1.1801 before finding support and
grinding higher to $1.1825 towards the end of NY. 
* The next area of support for Eur/Usd can be seen around the $1.1800 level
(1.618% swing $1.1851-1.1940)

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