After trading at fresh 2014 and 15 month lows last week, EUR/USD bounced back towards the $1.2989-00 region on Friday before closing at $1.2963. It started this morning in Asia near the session high of $1.2980 so far and then headed south through the early few hours. Euro-dollar slipped to $1.2965 initially and then moved further down to a $1.2950 low soon after Asian markets got underway. The pair witnessed a mild bounce off that low although gains were limited to just $1.2970 as the lackluster market activity continued toward the end of the morning. Euro-dollar was last at $1.2965 with a close above $1.3000 needed to confirm an easing of bearish pressure whereas a closeabove the 21-day moving average at $1.3105 is needed to shift overall focus higher. While the $1.2989-00 region caps immediate bearish focus remains on the $1.2745 2013 low. Traders will be closely watching Tuesday’s German and EZ economic sentiment data for clues following last week’s monetary policy surprise
