The pair started in Asia at $1.3755 after a $1.3729 to $1.3775 range during the US hours on Friday, and initially eased to a low of $1.3745 in early dealings. It recovered some ground after euro-yen also rebounded off a Y141.39 low to Y141.68 after a positive open in Japanese stock markets, with euro-dollar reaching $1.3763. The pair however failed to make further ground after that amid a lack of direct interest to trade the pair ahead of a series of key events in the eurozone this week, including the ECB’s policy meeting and Friday’s US non-farm payrolls data. Euro-dollar was last at $1.3747 not very far from where it had started the day. The pair’s bounce from ahead of the $1.3700 level on Friday combined with O/S daily studies could be hinting at a basearound the corner with any bounce initially targeting the $1.3847-79 region this week which is seen as key resistance. Bulls need a close above $1.3879 to end bearish aspirations and see the $1.3948-67 region targeted once more.
