It was a relatively dull session for the euro amid ongoing worries about tension in Ukraine, opening at $1.3909 after a $1.3873 to $1.3938 US range on Friday. The pair slipped on the early risk-off theme, touch a base of $1.3901. Crimean voted in a referendum to join Russia, according to reports but euro-dollar showed little major reaction as market players retained a cautious stance and waited for further developments. The pair marked a $1.3917 high and then spent the rest of the morning holding in the middle of that very narrow range, around $1.3908/10. Dealers noted limited interest among Asia-Pacific players to actively trade the euro, with the market preferring to wait for leads from the European session later. Immediate focus remains on retests of last week’s fresh 2014 and 2.5 month highs at $1.3967 with a close above reconfirming bullish focus and targeting the $1.4199-1.4247 region. A break below Friday’s $1.3873 US session low to open the pair up for further losses, with subsequentsupport then seen at the $1.3835/25 region.
