Another listless morning for the euro today in the Asia-Pacific as it opened at $1.3793, following a $1.3787 to $1.3822 range in the US last night. It dipped briefly to $1.3791 but was lifted up again by euro-yen’s rise following the open in Japanese stock markets. Euro-dollar saw another move down to $1.3790 before broader US dollar losses then gave the euro another shove higher. The pair marked a $1.3797 high in the late morning but saw little impetus for further moves back through $1.3800. The pair was last at $1.3796 and the $1.3780 support remains key with a close below to confirm bearish pressure and see immediate focus shift to the $1.3673-1.3731 region where the 100-day moving average ($1.3722) and 21 day lower Bollinger band ($1.3700) are located.A close above $1.3833 would help to ease the bearish pressure while a close above $1.3863 is needed to end bearish aspirations and see the focus return to the $1.3905-67 region. Stops are noted below $1.3780 and above $1.3840 and $1.3870.
