Closed in NY Friday at $1.3320 after rate had seen a pressured corrective pullback to $1.3280, recovering to $1.3332 before drifting off into the close. This Corrective easing continued into early Asia before meeting decent demand placed into $1.3300, the rate finding an early base at $1.3304 before edging back to $1.3331 where it again met resistance above the $1.3330 level. Rate settled back between $1.3316/28 into early Asian afternoon trade before coming under late sell pressure which eased it back to $1.3308. The rate was seen trading around $1.3316 into early Europe. Germany PPI at 0700GMT to provide the early interest, along with comment on the Germany Merkel lower Saxony election loss over the weekend in an otherwise data light day, and along with the US closed for Martin Luther King Day exp[ected to make for fairly subdued trading. Bids remain into $1.3300, a break to open a retest of Friday lows at $1.3280 ahead of stronger interest around recent lows of $1.3257. Stops are reported sub $1.3255. Resistance $1.3330/35 with stops above. Further offers $1.3350/60 with more stops on break.
EasyForexNews Research Team