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The Euro opened in Asia at $1.1735......>

EURO-DOLLAR
EURO-DOLLAR: The Euro opened in Asia at $1.1735 toward the middle of the $1.1687
to $1.1793 range witnessed yesterday, where after dropping to $1.1687 following
strong US data, demand in euro-yen surfaced to underpin the single currency.
There is no economic data or scheduled events in Asia likely to impact trading,
local traders expect sideways consolidation heading into the European open and
the release of European Q2 GDP. Initial resistance lies at $1.1748 (38.2%
$1.1847-$1.1687 decline), a break opens $1.1767 (50% on the same move), while
support is found at $1.1689/87 (Aug9-15 lows). Euro is currently changing hands
at $1.1738. 

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