Another muted session for the euro after it opened at $1.3619 this morning, and following last night’s $1.3608 to $1.3631 US trading range. It held between $1.3619 and $1.3623 through the early hours of Tuesday’s trade, but rose through that to a $1.3627 as euro-yen also traded higher. The pair then ran into sellers off the high and retreated back to the morning low and eventually stretched the low to $1.3613 in the late morning. It managed a small recovery to $1.3619 as euro crosses caught a mild bid tone but has been largely capped there since. Euro-dollar was last at $1.3620. Ahead, the $1.3564-76 support region remains key for the pair. Stops are noted below $1.3560 with a break lower to see the immediate focus shift to the $1.3503-12 region. Topside stops are noted above $1.3655 and $1.3705. Eyes now are on Fed Chair Yellen’s testimony tonight.
