The pair fell to a low of $1.3694 on Friday during the New York session and then opened at $1.3779 in early Asian trading to start the new week. The crisis in the Ukraine continued to escalate over the weekend but so far today, the euro has found near-term support with immediate focus on the $1.3893 2013 high set on Dec 27. Euro-dollar briefly traded a $1.3754 low right at the start of the day but then traded above $1.3775through the rest of the morning. The pair got up to a $1.3791 high earlier while pullbacks off there have been largely limited. The pair was last at $1.3778 with a close below Friday’s low likely to reverse the current bullish focus while a close below the 100-day moving average at $1.3635 would then see bears re-take control and target a retest of the $1.3476 2014 low.
