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EUR/USD has edged higher in early.......>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has edged higher in early Asia-Pacific trade and last sits
at $1.1483, a pip shy of session highs. This occurs after the pair advanced
nearly 80 pips yesterday amidst broader USD weakness. The impact of softer than
exp. German factory orders was seemingly countered by the release of a strong
German retail sales figure. 
- Initial resistance noted at the upper Bollinger band (2%) & the Dec 20 high at
$1.1486, followed by the Jan 2 high/Nov 7 high at $1.1497/00. On the downside,
initial focus falls on $1.1389, where the rate bottomed Monday, ahead of the
55-DMA/50-DMA at $1.1375/74. 
- EZ economic releases this week include German, French & Italian industrial
outputs due Tue, Thu & Fri respectively. Central bank rhetoric will be provided
by ECB's Villeroy on Thursday and ECB's Mersch on Friday, while ECB Dec meeting
minutes are due Thursday.

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