EUR/USD closed in NY at $1.3312, just off its pullback low of $1.3311 after rate had been pressed back from earlier intraday highs of $1.33857. Rate picked up fresh demand interest into Asia, the rate opening the main session around $1.3313 and edged higher, the move aided by initial EUR/JPY demand, with EUR/AUD buys taking it to session highs of $1.3337. The rate eased to $1.3316 before another round of demand emerged to edge rate back above $1.3330 into Europe. Rate dropped back to $1.3314 as early Europe attempted to trigger stops sub $1.3310, but dip attracted decent demand via the crosses and allowed it to recover. Rate bound to $1.3340/45 before meeting headwind sales, but underlying tone remained bullish with rate eventually able to work its way through offers to $1.3350, then $1.3355/65 before topping out at $1.3374. Strong demand for EUR/GBP and EUR/JPY aided euro’s recovery. However, offers remain from $1.3374 to $1.3400. Rate was trading just off highs ahead of the New York open.
EasyForexNews Research Team