German trade surplus narrowed to EUR 15.9 billion in July

Imports rose 1.4% mm vs 0.5% f/c

LNG is circa $3 above July's low, crude oil up $17 since end June

EUR/USD which traded 1.1276 in July reached 1.0772 after Fri's NFP data

Since Jul 21 traders have pared $5 billion of net long position

Traders still have $20 billion staked on EUR rising

Break under 200-DMA at 1.0819 heightens downside risk nL1N3AG0EE

Investors might see U.S. dollar as a sound investment nL1N3AG0GN