EUR/USD last trades at $1.1390 after....>

EURO-DOLLAR: EUR/USD last trades at $1.1390 after adding ~15 pips yesterday. 

- The pair moved lower in the late London morning after Reuters cited ANSA in

saying the EU Commission has rejected Italy's budget, which proved to be true

with Rome having no intentions of introducing anything more than minor tweaks to

its budget, as various key government figures stuck to script (in spite of some

erroneous headlines being run earlier in the day). 

- Meanwhile, USD struggled on the back of MNI sources suggesting that the Fed

could pause its rate hike cycle as soon as early Spring 2019, as well as

disappointing U.S. data releases. 

- Nearby resistance is located at Weds high of $1.1425 and a break above would

open up the Nov 20 high at $1.1472. On the downside, bearish focus falls on

yesterday's low at $1.1365. A break below would give a green light for targeting

the 50% fibo retracement of the move from $1.1216 to $1.1472 at $1.1344 

- EZ highlights this week include ECB meeting minutes & EZ consumer confidence

due Thurs, as well as flash PMIs & German final GDP reading due Friday with a

number of ECB speakers also scheduled.