The pair opened at $1.3675 in Asia this morning following a $1.3633 to $1.3709 range in the US on Friday. Euro-dollar slipped to an early $1.3668 low but got a lift from bids cited beneath $1.3650. The pair then spiked to a $1.3695 high thanks to a higher euro-yen rate, before activity then began to ease amid a lack of significant market interest and flow. Euro-dollar backed away from the high to $1.3674 and has since failed to make any kind of meaningful rebound in very subdued trade. Euro-dollar was last at $1.3680, just a touch higher from its Friday close of $1.3673. Stops are noted topside above the $1.3710 level and more importantly above the $1.3832 high with a close above this level needed to see focus shift higher once more with the $1.4210 Oct 2011monthly high then targeted. Expect further sideways trading within the recent $1.3626-1.3710 range today
