EUR/USD - 1.1780

Despite yesterday's marginal weakness to a fresh 3-month trough of 1.1756 in New York, subsequent rebound on intra-day rally in euro cross vs yen and chf due to risk sentiment on rise in U.S. yields and global stocks suggest range trading with initial upside bias would be seen but res at 1.1850 should cap upside.

Below 1.1756 would extend marginal weakness, however, loss of downward momentum would keep price well above 2021 bottom at 1.1705 ahead of Thursday's key ECB monetary policy announcement.

Data to be released on Wednesday :
Japan exports, imports, trade balance, Australia Westpac leading index, retail sales, U.K. PSNB, PSNCR, Italy industrial sales, U.S. Mortgage application and new housing price index.

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