The pair traded a high of $1.3846 in early US trading action on Friday but followed up with a decline to lows of $1.3731 before it closed near $1.3750. Early Asian trade this morning saw euro-dollar ease again to $1.3742 before it attempted a rebound to $1.3763 in holiday-thinned liquidity. The pair backed away again soon after, heading to mark a fresh morning low of $1.3734, almost matching last Friday’s NY low. Euro-dollar was last at $1.3751. The $1.3621 level remains key support with a close below needed to end bullish aspirations and see immediate focus shift lower to retests of the $1.3485-1.3525 support region with potential for a deeper move that targets the $1.3295 Novmonthly low. A close at fresh 2013 highs is needed to kick start bullish momentum and see focus shift to tests of the $1.4241 Oct 2011 monthly high.
