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Recovery off earlier dip low of.........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off earlier dip low of $1.1276, pushed through the
European morning high of $1.1324, then Monday's high of $1.1334, before it ran
into headwind resistance above $1.1340. Another push higher into the European
close saw it extend on to $1.1357. Rate currently trades around $1.1351.
Resistance noted into $1.1363/68 (21-dma/Feb07 high) ahead of $1.1374 with
stronger resistance then seen between $1.1390/1.1400. Support now seen back at
$1.1320. Interesting to note that Wednesday's NY cut sees expiries totalling
E1.0bn between $1.1395-1.1405, Thursday E2.04bn between $1.1400-05 which add to
upside attraction.
- Eurozone consumer confidence and the Fed minutes from January provide main
focus Wednesday.  
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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