*Oct26 Euro-dollar open $1.1813,.......>

EURO SUMMARY: *Oct26 Euro-dollar open $1.1813, range $1.1812 to $1.1833

*Euro opened in Asia at the upper side of yesterday's $1.1753 to $1.1818 range,

where softer US earnings reports and Republican in-fighting, threatening the

prospects for tax reform, placed the greenback on the defensive.

*Euro's strong showing into the New York close encouraged further demand in

Asia, the rate pushed higher from $1.1812 to $1.1833. Softer US rate yields were

supportive of the move and short-covering ahead of today's ECB meeting was also

evident.

*For the balance of the session the Euro consolidated in the mid to high

$1.1820's

*Resistance lies at $1.1841, the level marks a daily descending trend-line drawn

off $1.2092 high, while hourly support is found at $1.1800.

*ECB policy meeting provides the major interest for the session ahead, where

they are widely expected to announce an extension and tapering of their asset

purchase program. The current program of E60bn per month is set to expire in Dec

with the new program expected to be reduced initially to around E30bln per month