The pair started the Christmas Eve session at $1.2172 as it continued to pull back from the overnight high of $1.2246. It found minor support off a $1.2170 low through the morning but gains were stymied also by reported sellers at $1.2190. Euro-dollar inched up in early trades to $1.2181 and then followed up with a marginal extension of gains to $1.2189 as the US dollar weakened broadly. But the gains were halted there and euro-dollar then reversed its entire morning move back to $1.2170 as euro-yen also weakened. The pair was last at $1.2176. Bears continue to remain fixated on the 2012 low at $1.2042 as the next downside target with the Bollinger band base ($1.2183) seen as the key concern. Stops are noted above $1.2200, $1.2220 and $1.2250 today and on the downside below $1.2150.
