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EUR/USD is still struggling to hold.....>

EURO-DOLLAR: EUR/USD is still struggling to hold on to the $1.1600 level as the
recovery loses steam. Bulls look for a hold above $1.1628/38 (Wednesday's
intraday high/50% retracement level of recent decline) to mount a challenge on
the $1.1656 area, a break above which would still be required to shift to a more
constructive outlook. A move below $1.1564 would trigger a renewed bearish
- There is a lack of tier one EZ risk events this week, so EUR/USD is likely to
trade off of the broader USD theme & political events from within the EZ/Italy. 
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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