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EUR/USD trades virtually unchanged on...>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD trades virtually unchanged on the day, last $1.1345, after
hitting a low of $1.1309 during the flash crash. EUR was hampered Wednesday on
the news that the Italian bank, Banca Carige, has seen the resignation of the
majority of the company's board following a failed plan to raise more capital
with the ECB, leading to the appointment of temporary administrators. The final
EZ Dec m'fing PMI print also confirmed the slowdown in the sector.
- Support noted into $1.1300, with any break opening up channel base Nov20/Nov28
low at $1.1272/67. While the 50-, 55- & 21-DMAs provide a cluster of resistance
at $1.1369, $1.1376 & $1.1382 respectively.
- Final EZ services PMI data will hit Friday, as well as flash EZ CPI data.
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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