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 back 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 high of $1.32068, the recovery faltering ahead of reported sell interest placed at $1.3210 (76.4% $1.3219-1.3180). Rate settled back between $1.3192/1.3200 through the Asian afternoon, the rate coming under fresh pressure into early Europe as this market probed for stops below $1.3190. Rate has extended lows to $1.3188 ($1.3186 76.4% $1.3180-1.3206) and currently holding heavy. Bids are seen into the $1.3180 level with more stops below. A break here to open a deeper move toward $1.3160 with bids said to be placed from this level, strengthening into $1.3140/30. Resistance remains in place into $1.3210, a break to expose the Tuesday NY high at $1.3219. Offers remain into $1.3220, more from $1.3225 through to $1.3250.
EasyForexNews Research Team