Off Highs into Europe. Focus on Month-End Flows

Further extended its recent recovery (off Friday lows of $1.1612) to $1.1755 in Asia, with local traders linking move to EUR/AUD demand, and helped by minor stop triggering on the move through $1.1750. Momentum quickly faded and rate dropped back to $1.1728 with recovery efforts ahead of Europe held at $1.1738. Month-end and fixes will be in focus. Models have suggested USD demand to be seen, though even with this prospect has only slightly countered EUR/USD recovery. Could see some pullbacks into the main 1600BST fix but expect some dip buyers to emerge. Support now seen at $1.1728 ahead of $1.1710/00 with a break of $1.1690 likely to accelerate sales. Resistance $1.1755 ahead of the 55-dma at $1.1768(key on close). Little reaction to the much publicised presidential debate, not much in the way of policies. Germany employment, US ADP, GDP, Personal Consumption, Chicago PMI and home sales provide the data interest. ECB speakers include Lagarde, Kazimir, Rehn and Lane. Fed speakers Kashkari, Bowman and Bullard.