The pair marked a $1.3715 to $1.3767 range in the US hours last night and then started the session today in a narrow $1.3738/48 range. There was little direct interest in the euro today while attention remained on the yuan and Chinese market developments. Euro-dollar traded a $1.3736 low after being dragged down by euro-yen’s initial losses but managed to recover as the cross also tempered its initial falls. Toward the end of the Asian day, euro-dollar was holding at $1.3740 after today’s $1.3750 high. Immediate resistance is seen at $1.3760, the pullback high off the $1.3716 low ahead of the daily high at $1.3767, while strong selling interest has been noted into $1.3770. Near-termsupport for the pair remains at $1.3700, bids cited just below the $1.3708 Monday’s session low.
