The pair opened at $1.3675 this morning in Asia, after a $1.3669 to $1.3699 range in the US on Friday. Euro-dollar soon found itself stuck again in a narrow range, between$1.3670 and $1.3690 and found little encouragement to attempt another move through $1.3700 despite Friday’s move to a $1.3739 high during the European hours. That spike higher on Friday ran into selling interest ahead of the $1.3750 level with those believed to still be in place today. Euro-dollar was last at $1.3685, with a close back below the 21-day moving average at $1.3643 seen as necessary to relieve the current bullish focus and see the pair head back toward the $1.3583/88 region with the 100-DMA then noted higher at $1.3590. While the 21-day supports, the potential remains for further forays to the topside with the $1.3815-20 region targeted. Immediate support is seen down at $1.3650/45.
