The pair started in Asia at $1.3602 this morning after last night’s $1.3595 to $1.3626 US trading range. Euro-dollar encountered some early weakness as euro-yen retreated, although losses were contained at $1.3600. The pair then rallied through $1.3605 as the dollar continued to be dragged lower by the soft tone in US Treasury yields, and euro-dollar got up to a $1.3612 high before it backed away. The pair slipped back to $1.3605 minutes after and has since been stuck near there amid a lack of strong interest. Euro-dollar was last at $1.3603. Looking ahead, the immediate focus for the pair remains on the $1.3550-60 lows from late Jan/early Feb. A close above $1.3669 is seen easing the downside pressure with a close above the $1.3775 resistance level needed to shift focus back to 2014 highs of $1.3993. There are bids noted at $1.3585 and $1.3570 while sellers have been cited at $1.3625/30.
