The pair started this morning’s session at $1.2800, after marking a $1.2755 to $1.2817 range last night in the US. Euro-dollar ran into early selling which pushed it to a $1.2788 low as the dollar carved out small gains in the opening hours of the session. Rumored option expiries on both sides of the market today, at $1.2800 and down at $1.2750, hemmed the pair in a narrow range in early trade, with euro-dollar mostly seesawing between $1.2789 and $1.2801. It was at $1.2791 before the China data and inched up to $1.2798 afterward but initially struggled to to break through $1.2800. Gains persisted in the late morning and euro-dollar eventually traded through $1.2800 for high so far of $1.2820 as the dollar broadly weakened. Euro-dollar was last at $1.2819. Up top, further offers are noted at $1.2825 and then toward $1.2850. At current levels, euro-dollar is still seen supported off the 21-day moving average at $1.2714 and capped ahead of the Bollinger band top at $1.2882.
