The EUR/USD opened at $1.1191 this morning after a $1.1176 to $1.1245 range during the US hours on Friday. Early dealings saw the rate pressured lower to $1.1172 in response to news yesterday that Austrian banking authorities were winding down Heta Asset Resolution. But euro-dollar rebounded as Asian markets got underway this morning, climbing to a high of $1.1192 in the early hours of the session. From there, euro-dollar failed to make further progress and retreated again, retracing its route back to through the opening levels and down to a $1.1164. Losses continued, with euro-dollar then falling to a low of $1.1160 before a small recovery was then seen. Euro-dollar last traded at $1.1173. Initial resistance is noted at $1.1245 (27 Feb high), key support lies at the January and multi-year lows of $1.1098.
