The pair started in Asia at $1.3605 after marking a $1.3569 to $1.3619 range during the European/US hour. Early gains in euro-yen provided the euro with a positive start to the session as it rose past the overnight and traded $1.3622. It then ran into sell interest from above the initial highs and the market consolidated the gains, unwilling to take on large positions during this US holiday period. Euro-dollar slipped back but only marginally and has since stayed above $1.3600 as euro-yen continued with its very bid tone. Euro-dollar was last at $1.3621, with the market having since gone into limbo. Ahead, key resistance for euro-dollar is expected to come in at $1.3627, which is the 61.8% retracement level of the pair’s $1.3833 to $1.3295 move, while further up, offers are aplenty at $1.3650, according to market sources.
