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Euro opened in Asia at $1.1885 toward...>

EURO-DOLLAR: Euro opened in Asia at $1.1885 toward the lower side of yesterday's
$1.1873 to $1.1995 range, where increasing hopes over US Tax reform lifted both
the dollar and UST yields. Option expiries at $1.1810-20(E1.02bn) and
$1.1900(E1.1bn) will likely keep the near-term range contained. Local traders
expect sideways consolidation ahead of the European open and the release of
French & Italian CPI. Initial support is located at $1.1877 (50% fib
$1.1662-$1.2092 rise), a break opens $1.1826 (61.8% on the same move), while
initial resistance is located at $1.1920 (38.2% fib on yesterday's decline).
Euro is currently changing hands at $1.1892.

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