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Similar start to Monday with rate.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Similar start to Monday with rate making a show to $1.1351 and
remaining firm. Rate Monday managed to extend recovery to $1.1359 before it
faltered and dropped back to a post 1600GMT fix low of $1.1325. Resistance
remains at $1.1359, apart from Monday's high now has the added resistance from a
descending trend line, drawn off the Jan31 high. Above here and the 50-dma comes
through at $1.1360, the 55-dma at $1.1364 and 100-dma at $1.1367. A break above
to expose $1.1400 ahead of $1.1420(Feb28 high). Above $1.1425 though seen needed
to pressure longer term shorts. 
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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