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Opened in Asia at $1.1798 at the........>

EURO-DOLLAR
EURO-DOLLAR: Opened in Asia at $1.1798 at the upper side of the $1.1662 to
$1.1805 range witnessed yesterday, where a weaker US dollar amid falling UST
yields and solid European economic activity was seen to underpin the single
currency. There is no economic data in Asia likely to influence direction. Local
traders anticipate sideways consolidation with a mild upside bias as momentum
has shifted to the upside. Initial resistance is located at $1.1823, which marks
the 50% fib retracement on the $1.2092 to $1.1554 decline, while hourly support
is located in the mid-$1.1740's. 

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