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*** Rate held key support level of......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: *** Rate held key support level of $1.1650 in Thursday's extended
corrective pullback from earlier highs of $1.1777 with rate able to extend into
recovery to $1.1696 in early Europe (Asia high $1.1694). 38.2% retrace of
$1.1777-1.1650 comes in at $1.1699, which could strengthen any sell interest
placed into $1.1700, a break to expose hourly resistance between $1.1715-30
ahead of $1.1745/50. Support remains at the $1.1650 level with $1.1613(Jul26
low) now seen key to keep upside in focus. US Q2 GDP provides main focus data,
though this morning's Germany State CPI's will provide earlier interest. Saxony
due at 0700GMT, pan-German CPI market median 0.2%mm, 1.5%yy.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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