It’s been another quiet session for the euro this morning. The pair opened at $1.3647 this morning, toward the upper end of Friday’s $1.3610 to $1.3651 US trading range. Early dealings were muted, keeping euro-dollar confined to a $1.3642/48 range. The pair marginally extended the early low to $1.3641, as it followed euro-yen lower but again the losses were contained. Euro-dollar showed little inclination to attempt any kind of break of this morning’s range so far and was last at $1.3644. Immediate resistance is seen in the region of that Friday high around $1.3650/55, with stops then noted on abreak of $1.3660. On the downside, strong demand is mentioned also in the area of Friday’s US low, at $1.3610/08, with the $1.3600 area also seen containing a fair-sized option expiry.
