The pair also started the session confined within a narrow $1.3640/50 range but got a boost from aussie-dollar’s rally through $0.9000 this morning. The early gains saw the pair poking through the US session high of $1.3652 and then hitting some buy-stops as it continued through $1.3655. The pair continued to mark gains before offers from a variety of accounts then began to counter the initial rise. That failed to really hamper euro-dollar, which then marched on to a $1.3678 high before it backed away in the face of further offers seen still in place ahead from $1.3680, up to $1.3700, according todealers. Euro-dollar was last at $1.3668. Techs show the pair’s consolidation above both the 100-day moving average at $1.3611 and the 21-day at $1.3602 at the start of the new week combined with correcting oversold daily tech studies adds support to the case for a continuation higher that initially targets the $1.3739 Jan 24 high. A close below the 21-day would ease the current bullish pressure while a close below $1.3558 would then shift the focus lower once more.
