The pair started this morning’s session at $1.2474 after a $1.2402 to $1.2487 range last night in the US. It crept higher in early dealings as the US dollar weakened after it encountered profit-taking interest. Euro-dollar touched $1.2482 in early trades and then went up further to $1.2485 soon after. The pair’s gains ran aground after that, capped by reported sellers fronting a $1.2500 expiry today. Euro-dollar then turned back around and retraced back to $1.2472. Later in the morning, euro-dollar extended the low to $1.2466 before a small recovery was then attempted. Euro-dollar was last at $1.2470 with support to the downside noted at $1.2400, just under last night’s European session low of $1.2402, while further demand interest is noted at $1.2350. Stops are seen above $1.2500 and above $1.2600 and on the downside below $1.2440, $1.2400 and $1.2350.
