The pair started the session this morning at $1.3735, after a $1.3726 to $1.3780 range in the US overnight. Worries about tension in the Ukraine kept the euro under pressure through the morning, with euro-dollar capped early at $1.3739. Losses picked up pace after regional stocks started the day lower, with euro-dollar then sinking to a $1.3721 low around midmorning. A recovery in Japanese stocks pulled euro-yen off the lows and euro-dollar was carried up in tandem, trading $1.3731 initially and then extending that to$1.3735 again in the afternoon. Euro-dollar was last at $1.3734, with further support expected between $1.3710/15 ahead of the Feb28 low of $1.3694. A close below that $1.3694 low would at a correction with a close below the 100-day moving average at $1.3637 needed to see the overall focus shift to the triple daily bottom in the $1.3476-80 region with the 2014 low noted at $1.3476.
