Under pressure into early Europe as.....>

EURO-DOLLAR: Under pressure into early Europe as rate gets pressed to a fresh

low of $1.2007, the release of weaker than forecast German Factory Orders

keeping the weight on at writing. Usd traded firm through the Asian session,

though was subdued by the Tokyo holiday. Talk of BOK possible Usd/Krw buy

intervention overnight which may see them interested in buying Eur/Usd dips in

early Europe to balance reserves. Traders suggested Friday that rate was seen

stuck within a $1.20/1.21 range, a break of either side to provide the next

directional impetus. 

* Support $1.2000, likely stops on break below $1.1990. Resistance

$1.2080-$1.2100.

* Data: German Factory Orders -0.4%mm vs forecast 0.8%. 

* EZ Retail Sales 1000GMT(median 1.3%mm, 2.4%yy). EZ Confidence data 1000GMT. 

* Option expiries: $1.2000(E423mn), $1.2090-1.2100(E636mn)