The pair started this morning’s session at $1.3572 after it had marked a $1.3520 to $1.3575 US range overnight. Early market action was subdued with the pair slipping marginally to $1.3564 and then getting a small lift back to $1.3570 soon after. It then spent the rest of the morning easing a few pips lower to a $1.3558 low before turning back up. Euro-dollar was trading around $1.3570 when a sharp rise in Chinese stocks jolted regional markets and pushed currencies like the aussie higher. Speculators then took the opportunity to probe rumored euro-dollar stops-loss buy orders higher and these were then triggered at $1.3580. The pair was lifted up toward $1.3600 and very briefly brushed against that high before mild sell interest then sapped the momentumagain. Euro-dollar was last at $1.3594 with this morning’s break above $1.3585 having shifted the focus to retests of the $1.3645-50 region. A close below Monday’s $1.3490 low is needed to relieve the current bullish pressure and see immediate focus shift lower to the $1.3390 Nov 13 low
