The pair started in Asia trading a little lower than the $1.3633 NY close on Friday, and then went below the initial support at the $1.3650 low from Friday, triggering minor stops below this level. Euro-dollar marked a $1.3609 low before Asian markets started their day but recovered on better risk sentiment , and aided by a supportive tone in regional stocks so far this morning. Euro-dollar climbed back to $1.3637 high but a lack of momentum following Friday’s mixed NFP data reading limited further gains. Euro-dollar was last holding just off the high at $1.3624. The pair was last at $1.3627. Theimmediate focus remains on a continuation higher this week that initially targets the $1.3739 Jan 24 high. The relatively flat 21-day upper Bollinger band comes in at $1.3726 to start the new week and it should be noted that closes above are a rarity. Daily tech studies are correcting from oversold levels and are supportive of further topside.
