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The single currency starts the new......>

EURO-DOLLAR
EURO-DOLLAR: The single currency starts the new week toward the upper side of
Friday's $1.1837 to $1.1944 range, where hopes that Merkel will be able to form
a governing coalition, a softer US dollar and robust German IFO data, all
combined to place the euro on the front foot. In the absence of any significant
data in Asia, local traders expect sideways consolidation ahead of the European
open. Resistance is seen at $1.1965 (76.4% fib $1.2092-$1.1554 decline), while
initial support is located at $1.1904 (38.2% fib on Friday's move). Euro-dollar
was last at $1.1942

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