Breaks above resistance at $1.5595/1.5600 and trades to a fresh
intraday high of $1.5610. Next level of reported offers seen placed
around Monday's highs at $1.5634, with further interst behind in the
area between $1.5644/53 (Rally high May 1/50% $1.6020/1.5285,
respectively). Traders note that upside momentum appears to have faded,
rate currently holding back around $1.5600, and suggest market could be
wary of going into the afternoon/NY session overly long of euros. ZEW
on the horizon at 0900GMT, with expectations for an improved headline
number, which market appears to be positioned for. Bids $1.5580/70,
more between $1.5550/40.