EUR/USD's recovery off Friday's post....>

EURO-DOLLAR: EUR/USD's recovery off Friday's post NFP lows of $1.1211 continued

during the European morning, after a slow Asian session, with the eventual break

above the $1.1245/55 area of recent highs accelerating the move in early NY to

$1.1274. Rate eased off to the $1.1260 into the 1600GMT fix before picking up

fresh demand into the European close that has edged it back toward $1.1270. Some

traders suggest the catalyst for that break above $1.1255 seen on the Bbg story

suggesting EUR in demand due to ECB 'moving slowly on negative rates'.

Resistance remains at $1.1274($1.1273 Mar22 low) with the 21-dma close behind at

$1.1278. Above here and expect further resistance from around $1.1285 through to

$1.1300. Support now seen at $1.1250/40 ahead of $1.1220.

- Italy Retail Sales and ECB Bank Lending Survey due at 0800GMT Tuesday though

focus remains on Wednesday's ECB Rate Announcement(focus on ECB Draghi press

conference and any details regarding TLTROs) and FOMC Minutes. 

- Expiries of note for Tuesday's NY cut include, $1.1200-25(E3.26bn),

$1.1245-55(E2.68bn) and $1.1260-65(E1.48bn).