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- EUR/USD last deals at $1.1685, 5 or...>

EURO-DOLLAR
EURO-DOLLAR: - EUR/USD last deals at $1.1685, 5 or so pips softer on the
session, although the cross has stuck within a 10 pip range during Asia-Pacific
dealing.
- EUR/USD managed a brief and very modest break of the six-week triangle
formation and the key 1.1744 resistance level (July 26 high) on Tuesday, topping
out at $1.1746. However, failure to hold above here saw intraday momentum turn
lower, consistent with a pullback into the consolidation range. The ability to
hold above 1.1620 and close above 1.1744 is now needed to restore the recent
bullish momentum. A break below the 1.1600 resumes the longer term downtrend.
- Final EZ PMI data from across the region dominates the EZ docket on Wednesday.
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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