EUR/USD closed in NY at $1.3198, the rate recovering from a pullback low of $1.3180 into Asian trade after rate had seen session highs in NY of $1.3219. Rate initially dipped to mark overnight lows at $1.31917 before picking up fresh demand, the market risk on tone boosted by the strong results from Apple. Rate traded to a session high of $1.32068, faltering ahead of sell interest at $1.3210 (76.4% $1.3219-1.3180). Rate settled between $1.3192/1.3200 through the Asian afternoon, the rate coming under fresh pressure into early Europe as market probed for stops below $1.3190. Rate extended lows to $1.3185 before decent demand emerged. Dutch and middle east buying cited as rate moved above $1.3200, triggered stops above $1.3210 taking rate to $1.3215 where it met decent supply from the semi official and a Spanish name. Dips toward $1.3200 met continued buy interest before pushing up to a high of $1.3232 before momentum faded. Rate remained buoyed above $1.3200 on pullbacks, underlying tone remaining positive but offers $1.3230/40 restrict.
EasyForexNews Research Team