The pair opened at $1.3663 after a $1.3603 to $1.3677 range in the US last night. The early risk-off environment weighed the pair down to $1.3656 in the early hours as euro-yen also retreated after the lower open in Japanese stocks. As other regional stock markets also began to mark losses at the start of their sessions, euro-dollar continued to gravitate lower, eventually hitting a morning low of $1.3646. It spent the rest of the lackluster morning trapped between that and $1.3656 as market interest died down. Euro-dollar was last traded at $1.3651. Techs noted that Wednesday’s dip saw the pair bounce just short of the 100-day moving average at $1.3651 and pivotal $1.3580-85 support region. A close below would see immediate focus turn to the $1.3508 low for themonth so far and then the 200-DMA ($1.3372) overall. A close above $1.3700 is needed to shift the current focus from further tests of the 100-DMA.
