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EURUSD breached 1.14 and will be........>

EURO-DOLLAR
EURO-DOLLAR: EURUSD breached 1.14 and will be looking to extend its run for a
fifth consecutive session. The single currency squeezed to $1.1412, its highest
level since Mar 21 and holds firm at the European crossover. Technical
indicators remain bullish with next resistance at $1.1423/37 from the 2% upper
Bollinger band & Mar 21 high, above here opens the Jan 29 high & 50% retracement
level of $1.1815-1.1107 at $1.1450/61.
- Option expiries for today's NY cut at $1.1400(E562mln), $1.1435-50(E523mln).
- Light on the European calendar today with main highlights from US Richmond
Fed, New Home Sales & Consumer Confidence. The pace of new home sales is
forecast to rise to 690,000 SAAR in May after a dip in April. The April pace was
significantly higher than its year-ago level, but supply growth was even
stronger. The index of consumer confidence is expected to fall to a reading of
130.5 in June after rising further to 134.1 in May. The preliminary Michigan
Sentiment index fell to 97.9 in June from 100.0 in the previous month.

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