The pair sank further this morning in Asia after it registered a $1.3256 low last night during the US hours. Euro-dollar started out this morning’s session at $1.3259 and was initially supported off the overnight low amid some talk of barrier-defensive interest from $1.3255 to $1.3250. The pair however slipped through that a few minutes before the HSBC flash PMI release with losses then intensifying again a few minutes after that. Euro-dollar ran through $1.3250, hitting some stops along the way and eventually traded $1.3242, a fresh low for 2014 so far and its worst level since September last year. Euro-dollar staged a minor recovery to $1.3252 but the dollar’s gains and euro selling kept the pressure on the pair, and it was last at $1.3247. There are further stops reported below $1.3220 with next support noted at $1.3229 and more demand seen in front of the $1.3200 barrier
