• EUR/USD setback has broken last weeks 1.0825 low and the key 200-dma 1.0821

• A close below the latter would increase potential to a daily cloud twist

• Daily Ichimoku cloud twists often attract, so potential to 1.0750's mid week

• FX option implied volatility supported by key event risk and lower spot

• 1-month implied vol paid 4.95-5.0 on Monday from 3-year low at 4.75 Friday

• However, still low implied volatility consistent with familiar FX ranges

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