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EUR/USD has added a handful of pips.....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has added a handful of pips and last deals at $1.1265 after
slipping 65 pips yesterday, with EUR finishing the day at the bottom of the G10
pile. As a reminder, EZ industrial output contracted faster than exp. in
December, while Spanish lawmakers rejected the ruling Socialist party's budget
plan, amidst speculation that PM Sanchez may call a snap election. 
- After the rate touched a fresh YTD low of $1.1250 in today's Asia-Pac session,
bears look for a break below that level before targeting the lower 1.0% 10-DMA
envelope at $1.1232. Conversely, $1.1275, which represents the broken down
trendline from Mar 4 2009, provides the initial bullish target and a break above
would open up the 100-HMA at $1.1308. 
- EZ focus turns to German & EZ GDP figures due later today. Elsewhere, ECB's
Coeure & Angeloni are set to speak Friday.

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