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Recovery off last Thursday's $1.2286....>

MNI (London)
EURO-DOLLAR: Recovery off last Thursday's $1.2286 low extended through Friday's
high of $1.2373 to a high of $1.2381 in Asia (off an early dip low of $1.2335).
Rate drifted lower ahead of the European open, touching $1.2362 in early Europe.
Support seen into $1.2360, a break to expose the earlier low of $1.2335 ahead of
hourly support between $1.2325/15. Resistance $1.2381 ahead of the Mar22 high of
$1.2388(rate did show a print at this level in Asia but was seen as a 'fat
finger' with official high put at $1.2381). Above here next band of reported
sell interest seen at and above $1.2400. No major data on the calendar for today
in the EZ. Focus this week on GDP data from the four largest EZ economies along
with German CPI data Thursday. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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