The pair was surprisingly stronger this morning, despite the broader US dollar gains elsewhere. Euro-dollar started in Asia at $1.3623 and briefly sank below $1.3600 for a low of $1.3586 before it bounced minutes after the Australian jobs data. Euro-dollar went through the opening high of $1.3607 and continued upward to $1.3624 around mid-morning, where it has since held firm right into the early afternoon in Asia. Dealers said the euro managed to brush off the dollar’s strength thanks to gains in euro-aussie cross as the aussie imploded to its 3-year-plus lows. The cross broke above its 21-day moving average at A$1.5325 and then rose to A$1.5477, just shy of its A$1.5495 Dec. 31 high. Ahead, $1.3645 remains key for euro-dollar today with stops noted above. Aclose above this level is needed to relieve the bearish pressure that is now targeting an initial test of the $1.3548-56 support region with the 100-day moving average at $1.3561 and the 21 day lower Bollinger band at $1.3555. Further ahead, German and EuroZone CPI data could have a further impact on euro volatility this afternoon
