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EURO-DOLLAR: Opened in Asia at the upper end of yesterday's $1.1730 to $1.1832
range, where softer than expected US inflation data and a perceived dovish Fed
hike, provoked widespread US dollar weakness. Local traders anticipate
consolidation ahead of the European open as Asia investors digest the latest
FOMC statement. In option space, close-by expiries for today at $1.1800(E1.2bn),
$1.1815-20(E1.12bn) and $1.1860-65(E1.48bn), will likely see the near-term
range contained, at least for Asia. For now, the rally is stalling near the
daily I-cloud top at $1.1830, further resistance is located at $1.1855 (61.8%
fib $1.1940-$1.1718 decline), while support is expected around $1.1780 (Hourly
breakout level). Euro-dollar is currently changing hands at $1.1825.
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