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EUR/USD has shed 8 pips and last........>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has shed 8 pips and last deals at $1.1301, after dropping
32 pips yesterday, as the greenback was buoyed by strong domestic data from the
housing and services sectors.
- Worth mentioning yesterday final EZ Feb composite & services PMIs were revised
higher, to 51.9 and 52.8 respectively.
- The initial bearish target is provided by the broken down trendline from Mar 4
2009 at $1.1268. A breach of that level would open up the lower Bollinger band
(2%), located a further 5 pips below. Conversely, bulls need to clear the 50-MMA
at $1.1315 before shifting focus to the up trendline from Nov 12 at $1.1330.
- On Thursday, the ECB will deliver its latest MonPol decision, which will be
followed by a press conference with ECB President Draghi. Elsewhere, EZ focus
this week turns to EZ GDP (f) due Thursday and remarks from ECB's Nowotny, due
Friday.

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