*Oct20 Euro-dollar open $1.1852,.......>

EURO SUMMARY: *Oct20 Euro-dollar open $1.1852, range $1.1807 to $1.1858

*Opened in Asia toward the upper side of the $1.1768 to $1.1858 range seen

yesterday, where after initially slipping lower on news of the Spanish

government taking steps to take control in Catalonia, the Euro recovered as UST

yields started to weaken and finished the day gaining the upper-hand against the

greenback

*Euro traded sideways in a $1.1843 to $1.1858 range in early trade

*News that the US Senate had passed a 2018 budget blueprint, setting the stage

for Republican tax reform saw widespread US dollar strength, Euro-dollar eased

from near $1.1850 to $1.1807 before meeting demand

*For the balance of the session the pair consolidated within a $1.1807 to

$1.1820 range

*Although marginally pierced, support is holding at $1.1809 (38.2% fib

$1.1730-$1.1858), a break to open $1.1794 (50% on the same move), while

resistance is now seen at $1.1858 (Intraday & Oct19 high)

*German PPI provides the event risk for the session ahead