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Trades below $1.1200, touching an.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Trades below $1.1200, touching an extended low of $1.1186, as rate
reacts to equity market slippage/risk aversion linked to COVID-19 spread.
Traders mention that the area between $1.1180/1.1200 seen critical for weaker
longs, a break below to apply pressure on those positions as well as exposing
the Mar30 high of $1.1163. Rate currently trades around $1.1197 and currently
seen lacking the momentum to probe the $1.1180 level. A break above $1.1200 to
relieve some of the pressure, if sustained to open a move back toward $1.1230.
Equity market activity remains in the driving seat. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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