The pair started at $1.1320 this morning after a $1.1278 to $1.1368 range during the US hours last night. It followed euro-yen higher in early dealings, reaching $1.1329 initially and then trading a high of $1.1338. A pullback followed and euro-dollar dropped to $1.1320 before another recovery was then seen. The rest of the session was spent with the euro largely in consolidation especially with little euro-centric news seen. It got up to $1.13336 but again failed to find fresh momentum to power another move higher and it then slipped back to toward the $1.1320 region. Euro-dollar last traded at $1.1323 with immediate support noted at last night’s $1.1262 European session low while resistance is noted up toward $1.1370.
