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Recovery off Wednesday's low of.........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Wednesday's low of $1.1650 topped out at $1.1692 into
the London fix before it settled around $1.1675 into the close. Rate formed a
base around $1.1670 in early Asia before it edged up to $1.1687, settling around
$1.1680 into Europe. Resistance seen between $1.1690/1.1700, a break to expose
the recent highs of $1.1715/24(Sep19-18 highs respectively) though stronger
resistance continues to be reported at and above the Aug28 high of $1.1733, some
suggesting area from here through to $1.1770 could prove quite tough. Support
remains around $1.1670 ahead of stronger level at $1.1650. Data light calendar
today for the EZ. Focus on US Phila Fed, Weekly Jobless Claims at 1230GMT ahead
of Existing Home Sales at 1400GMT. 
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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