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Opened in Asia toward the upper side....>

EURO-DOLLAR
EURO-DOLLAR: Opened in Asia toward the upper side of yesterday's $1.1888 to
$1.1959 range, where a broadly weaker US dollar and end of year rebalancing
flows, placed the euro on the offensive. There has been little reaction to news
Italy's president has dissolve parliament, leading to an election in the next 45
to 70 days. For Asia, range-trading is expected ahead of the European open and
release of German inflation data for December. Resistance is noted at
$1.1961/65, the area holds  Nov27 high and 76.4% fib retracement on
$1.2092-$1.1554 decline, while hourly support is located in the mid-$1.1920's.
Euro was last at $1.1944.
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