The pair started in Asia around $1.3593 after a $1.3562 to $1.3599 overnight range in the US. Early losses due to risk off put the euro under some pressure in the Asian morning but euro-dollar’s falls were limited. The pair marked a low of $1.3585 earlier in the morning but rebounded when aussie-dollar’s initial decline following the weak jobs data turned into a broader rout against the Australian currency, giving a lift to euro crosses like euro-aussie. Euro-dollar found fresh legs later in the session although a lackof follow-through also kept the pair from breaking a lot of new ground. It rose through $1.3600 and then touched $1.3611 before pausing. Euro-dollar pushed through that to mark a high of $1.3618 in the early afternoon ahead of the start of the European session. Euro-dollar was last at $1.3615, with sellers cited ahead from $1.3620. A close above that is now needed to ease the current bearish focus and signal a false break of the 21-day and 100-day moving averages, which were breached last night. Immediate support is seen coming arund the region of last night’s $1.3562 low.
