The pair closed in NY Thursday at $1.5110 after rate had recovered off session lows of $1.5014 to an eventual high of $1.5129 before drifting off that high into the close. The corrective pullback continued into Asian trade with rate stepping its way down to a low of $1.5065. The sell off in dollar-yen, seen as the Nikkei reversed early gains, prompted general dollar sales which pushed cable up to $1.5114 (76.4% $1.5129-1.5065) where it met resistance. Rate eased to $1.5090 before edging back to hold above $1.51 into Europe. Euro-sterling was contained within a range of stg0.8558/68 which allowed cable to track euro-dollar moves. Resistance remains at $1.5114, a break to open a move back toward $1.5129, with offers seen to $1.5130. Further resistance seen into $1.5150. Support $1.5065/50, a break exposing stronger demand into $1.5025/20 and $1.5010/00.
