The Asian break above recent............>

EURO-DOLLAR: The Asian break above recent resistance area at and above $1.1280,

under the influence of EUR/YEN demand at the Tokyo fix, lifted EUR/USD on to a

session high of $1.1295 before it met stiff resistance on the approach to

$1.1300. This stall prompted a long squeeze into early Europe, as rate eased to

$1.1282. Fresh demand into the dip provided the impetus to take it through

$1.1300, the momentum taking it above 50-dma and 55-dma at $1.1304-17

respectively before it met stronger resistance between $1.1320/30, topping out

at $1.1324 in early NY. USD pared the earlier losses, led by USD/JPY edging

above Y112.00, with EUR/USD easing off to $1.1294 at the Europe close. Support

now seen into $1.1280, a break to expose $1.1250. Resistance $1.1324/31,

$1.1341(200-wma).