The pair opened in Sydney at $1.1321, following a choppy $1.1270 to $1.1359 range during the overnight session in New York. Greek news continue to dominate headlines but the euro has generally stayed relatively resilient. Euro-dollar inched up to $1.1334 in early dealings before pulling back. It got up to $1.1338 and then to $1.1341 around mid-morning but struggled to clear the $1.1350 region through the morning. It marked another late morning high of $1.1345 but reported large sell orders from around $1.1370 continued to cap the moves. Reports of a draft communique from the G20 failed to make an impact on euro sentiment and euro-dollar last traded at $1.1334. Initial resistance is noted at $1.1360 (200 HMA), above there, $1.1381 marks the 38.2% Fibonacci retracement of its $1.1534 to $1.1286 fall, initial support is seen at $1.1291 (hourly Bollinger band base).
