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EURUSD based ahead of $1.12 at the......>

EURO-DOLLAR
EURO-DOLLAR: EURUSD based ahead of $1.12 at the European crossover with the
recovery extending to fresh intraday highs of $1.1220. The 100-dma comes in
today at $1.1227 (not closed above since Jul 18), above here would see bulls
challenge the $1.1240/50 area which has so far proved hard to overcome. This
level also holds large optional expiry interest for today's NY cut, totalling
E2.72bn, E2.15bn worth of EUR calls. The 61.8% retracement level of the Jun-Aug
fall comes in around $1.1265. It's also worth noting of the recent bullish MA
crossover (50-dma above 100-dma). Light on the calendar today with risk expected
to drive. 

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