The pair breached $1.1700 on Tuesday,...>

EURO-DOLLAR: The pair breached $1.1700 on Tuesday, peaking at $1.1733, before

the subsequent pullback, aided by a stronger than exp. U.S. consumer confidence

metric, resulted in a close below the figure, last $1.1693.

- ECB's Praet offered little fresh in his comments on Tuesday as he reiterated

that patient, prudent and persistent monetary policy is still needed, while

noting that the risk channel of the ECB's policy has to be closely monitored.

- Bulls look for a close above the figure, with Tuesday's aforementioned

intraday high, the July 31 high ($1.1746) & the 100-DMA ($1.1762) providing the

next notable levels of upside interest. The inverse head-and-shoulder formation

that is now in place also adds to bulls' convictions. Bears need a close below

$1.1600 to take the pressure off. Initial support is noted at Tuesday's low

($1.1663), followed by the 55- & 50-DMAs ($1.1616/14).

- French GDP provides the EZ highlight on Wednesday.