The pair slumped to another fresh 9-year low of $1.1802 last night during the US hours before it recovered marginally to start today’s session at $1.1839. Early euro-yen gains kept euro-dollar supported off $1.1830 and the pair edged up to a $1.1848 high soon after Asian markets got underway. The gains lost steam as worries about eurozone problems continued with last night’s terrorist attack in Paris adding to the concerns. Euro-dollar retraced the morning’s gains and then extended its low to an eventual low of $1.1818 on some speculation of euro-aussie sales as the Australian currency ran through some buy stops. Euro-dollar followed up with a small recovery to $1.1830 and it last traded at $1.1823. Layers of resistance continue to accumulate with a close above $1.1976 needed to ease bearish pressure on the pair, while only above $1.2107 would hint at a bigger bounce. Euro-dollar offers are noted at $1.1860
and from $1.1880 through $1.1900.
