The pair traded a high of $1.3812 last night in the US, the highest since last Wednesday’s $1.3820 high, and started in Asia slightly lower at $1.3797. It was initially bogged down in a $1.3790 to $1.3798 range in early dealings but extended the lows down to $1.3786 later in the session. The pair recovered a bit to $1.3794 but found little follow-through for any attempt to make another break above $1.3800. Euro-dollar was last at $1.3790. A push back above the April 2 peaks at $1.3820 would suggest that upward momentum was mounting, and would target a move initially back to the March 24 peaks around $1.3876. The euro posted a 2014 peak of $1.3967 March 13. Below current levels, immediate support eyed at $1.3750/40, ahead of demand cited in the $1.3720 to $1.3700 region.
