Grinds its way down to an extended......>

EURO-DOLLAR: Grinds its way down to an extended low of $1.1204 but move lower

continues to meet decent demand which has so far cushioned. One the other side

recovery efforts remains very shallow and seen keeping focus on the downside. A

break of $1.1200 to expose the Mar7 low of $1.1177. Recent reports had suggested

support in place from around $1.1210 through to $1.1175 so further move lower

could prove difficult. Resistance seen at the earlier day's high of $1.1250. The

EUR/USD daily RSI remains far from oversold territory (clocking in at 37 at

writing, signalling any pullback may have further to run. There's relatively

little on the calendar tomorrow in terms of data, but ECB's Praet is due to be

speaking from Frankfurt at 0700GMT/0900CET.