The pair started this morning’s session at $1.2685 today after coming off last night’s$1.2715 NY session high and then found itself trapped in a narrow $1.2683/92 range in early trades. The pair marginally extended the low to $1.2682 after Asian markets got underway before then recovering again to $1.2690. The pair respected that early range through the next few hours before breaking higher to $1.2695 in the late morning. Euro-dollar extended highs after that to $1.2702 but failed to gather sufficient momentum for another push higher. Reported buyers down at the $1.2660/50 region have held thedownside firm so far though sellers expected should euro-dollar make another run through $1.2700, with more likely seen around the overnight high. Euro-dollar was last at $1.2692. Stops are seen today above $1.2720, $1.2770 and $1.2825 and then below $1.2650 on the downside.
