Saw an extended low of $1.0955..........>

EURO-DOLLAR: Saw an extended low of $1.0955 Tuesday before recovering to

$1.1020, closing the day at $1.0998. Rate nudged to $1.1023 in early Asia before

meeting sell interest through the Tokyo fix which pressed it to $1.0985. Dip met

interested buyers, some talk of spec shorts covering back, allowed rate to push

up to $1.1045 ahead of the European open. Asian traders have mentioned decent

resistance into $1.1050 before rate reversed down to $1.1002 through the

European open. Markets seen assessing the fiscal response to the economic

effects from the COVID-19 spread, traders awaiting ECB response (several EZ

countries have announced fiscal actions).

- EZ Trade and final HICP data due at 1000GMT. Housing data in the US 1230GMT. 

- MNI Techs: EURUSD failed to hold above the Monday low of $1.1048 which negates

a number of bullish technical signals highlighted earlier in the week. The break

lower resumes last week's sell-off and exposes a deeper pullback with sights on

$1.0947 next(76.4% retracement of the Feb 20 - Mar 9 rally) now that

$1.1003(Mar02 low) has also been breached. A break of the retracement level

would open $1.0855. Yesterday's high of $1.1189 marks initial firm resistance.