Closed in NY at $1.3082, off pullback lows of $1.3057 seen during the NY session, off earlier Asian highs of $1.3140. Rate was seen steady into early Asia around $1.3080 before edging up to challenge reported offers placed between $1.3090/00. Rate touched a high of $1.3091 before momentum faded and it eased off to $1.3067 before settling in the low $1.3070’s through most of the Asian afternoon session. Rate picked up late demand that has taken it back to $1.3087 ahead of the European open. Euro-dollar was basically sidelined during the Asian session with most interest seen in yen, Aussie and Kiwi. Bids seen into $1.3065 (76.4% $1.3057-91), a break to expose Tuesday’s low at $1.3057 ahead of further demand into $1.3050. Stops noted below, with more demand seen placed between $1.3030/00 with larger system stops placed below $1.2980. Resistance $1.3090/95, more between $1.3100/30. Light data calendar for Wednesday with Germany IP at 1100GMT to provide the morning interest. Euro direction expected to again come via euro crosses.
EasyForexNews Research Team