The pair was dragged lower last night by deemed dovish commentary from European Central Bank President Mario Draghi and dropped from highs near $1.3808 to a $1.3698 low in the US session. Euro-dollar opened in Asia off the low, at $1.3720, but saw little meaningful interest to attempt another rally back toward the overnight highs. The pair was said to be trapped by moderate interest on both sides of the market, according to dealers with talk of option-related bids defending the $1.3700 mark and with stops then noted below the region of the overnight lows. Sellers meanwhile were noted at $1.3750, also keeping a tight lid on the pair. Euro-dollar was last at $1.3713, with the 100-day moving average noted below the overnight low at $1.3685 today and aclose below likely to see the immediate focus shift to the $1.3643 Feb 27 low
