The pair opened at $1.3606 this morning, after pulling back from the overnight high of $1.3627 during the US session. The session then turned into lackluster one for the euro as it found itself stuck in a narrow range amid a dearth of any major flows. The pair briefly edged up to $1.3609 as it tracked a mild rise in euro-yen but then turned down again although the low was also limited to $1.3600 this morning. Euro-dollar was last at $1.3605, just about where it had started the session. Layers of resistance are noted in the $1.3643-77 region and initial support at $1.3564. The $1.3670-77 region remainskey, with a close above to confirm a break of the 200-day moving average ($1.3670) with immediate focus then shifting to the $1.3735-75 region. While $1.3670-77 caps bears will target retests of the key $1.3503-12 region.
