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Soft German CPI data and broader USD....>

EURO-DOLLAR
EURO-DOLLAR: Soft German CPI data and broader USD strength limited the EUR/USD
cross on Thursday, as the rate made a low of $1.1642, before a modest recovery,
last dealing at $1.1665.
- Failure to hold above $1.1700 has seen the short-term outlook turn neutral
with bearish trend signals appearing on the intraday charts. Bulls need a close
above $1.1700 to regain control and challenge the Aug 28 high ($1.1733), ahead
of the 100-DMA ($1.1742). Bears need to see a close back below $1.1600 to
alleviate the pressure and focus on the $1.1500 area.
- EZ flash CPI data & an address from ECB's de Guindos headline the EZ docket on
Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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