The pair had another quiet start to the session, opening at $1.3767 after a $1.3753 to $1.3797 US trading range overnight. Early Asian trading saw the pair stuck in a $1.3764 to $1.3769 range before it then opened up to $1.3760/70 after Asian markets got fully underway. The pair briefly traded a $1.761 high as euro-aussie got a lift from aussie weakness before the euro then turned back down again on position unwinding. The move down intensified a bit after $1.3760 gave way, and euro-dollar sank to a $1.3757 low in the early Asian afternoon. The pair was last at $1.3758 as European markets geared up for the start of their day, while players looked ahead to tonight’s ECB policydecision and Mario Draghi’s subsequent press as the key event risk although the early release of the euro area services PMI number is also likely to be monitored. For now, bids just below current levels at $1.3755/50 are seen providing minor support for the pair.
