The pair opened at $1.3672 after a $1.3631 to $1.3689 range in the US last night. It spent the first few hours of the day trading in a choppy $1.3660 to $1.3673 range but without seeing any dramatic moves in the holiday-thinned market. Euro-dollar ran into selling pressure around mid-morning from $1.3670, as euro-yen retreated to its session lows. Euro-dollar eased to $1.3649 low in the late morning before the move then encountered fresh buyers from $1.3650. Euro-dollar saw a weak bounce to $1.3665 before trade flows thinned out further ahead of the weekend. Euro-dollar was last at $1.3661, with a break below yesterday’s $1.3631 US low likely to see further stops taken out and a close close below $1.3621 likely to end bullish aspirations and open up a correction that potentially targets the $1.3295 Nov monthly low.
