The pair started at $1.3679 this morning following a $1.3657 to $1.3690 range in the US overnight. It was kept to a $1.3667 to $1.3680 range in the early part of the morning slipped further in the face of selling from $1.3690 to $1.3710, believed to have been in place for the last few days. Euro-dollar extended lows toward $1.3630 when the overnight low $1.3657 failed to hold the pair up and as euro-yen also retreated to the initial lows, although earlier talk of minor bids expected toward $1.3630 managed to slow the fall. Euro-dollar eventually fell to a late afternoon low of $1.3628 and was last at$1.3633. The pair faces more offers sitting from $1.3720 through $1.3740, although buy-stops were also mentioned mixed in above $1.3710. A close below the Asian session low would then shift the focus back to layers of support in the $1.3548-60 region, which includes the 100-day moving average at $1.3558 and the 21-day lower Bollinger band at $1.3560.
