Another dull session for the euro with the single currency spared further hefty losses while the crisis in Crimea continued with any signs of worsening. Euro-dollar opened at $1.3922 after falling to a $1.3888 low last night in the US. Early euro-yen strength gave euro-dollar some lift and it rode on that to hit $1.3928 and then a $1.3938 high for the session so far, traded just after Japanese stocks opened. Euro-yen turned back from the lows but euro-dollar eased a few points only, to $1.3931. It continued to hold above thatmark through the rest of the morning although investors showed little appetite to take the pair back toward the earlier high. Euro-dollar was last at $1.3931 ahead of the European open. Initial support is noted on the hourly timeframe at the $1.3915 break out level with small stops noted below that and also below Monday’s $1.3879 low. The $1.3824-46 support region remains key for further topside today with bulls targeting $1.4199-1.4247 while the key support remains in place. Immediate focus remains on a retest of the 2014 high at $1.3968.
