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EUR/USD has stuck to a 15 pip range.....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has stuck to a 15 pip range overnight, and last deals just
below $1.1660.
- The cross' triangle support has held so far, allowing for a rebound at the
back end of last week. However, momentum and trend indicators are still giving
an overall bearish picture for the pair suggesting gains are likely to remain
limited keeping the focus on the consolidation pattern base at 1.1587. A break
below the 1.1587 level will open downside potential towards the 1.1506 May lows.
Rebounds above 1.1663 needed to provide near-term stability.
- Flash German CPI data (as well as the state prints) dominates on Monday,
followed by the flash EZ CPI release Tuesday, with the final EZ PMI readings due
later in the week.
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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