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Recovered off Monday's low of $1.1309...>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovered off Monday's low of $1.1309 to $1.1343, closing the
session around its 21-dma at $1.1342 (today at $1.1337). The USD firm tone
reasserted itself in Asia as EUR/USD drifted off to $1.1325 (and USD/JPY edged
back toward Y112.00), settled around $1.1330 into Europe. Support remains into
$1.1310/00, the area covering Monday's low of $1.1309 and 1.1305, 61.8%
retracement of the move up from $1.1234 to $1.1420. A break of $1.1300 to expose
$1.1280/70. Resistance $1.1337/41 ahead of $1.1350/60.
- Key this week, Thursday the ECB will deliver its latest MonPol decision, which
will be followed by a press conference with ECB President Draghi. For the latest
MNI PINCH update for the ECB, see
https://emedia.marketnews.com/MNI_PINCH_UPDATE.pdf
- Elsewhere, EZ focus this week turns to EZ Services/Composite PMI's, Italian
GDP (f) today, EZ GDP (f) Thursday and remarks from ECB's Nowotny Friday. 
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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