The pair started this morning at $1.3867 after last night’s $1.3844 to $1.3877 range in the US. Euro-dollar drifted marginally lower to a $1.3863 low but found minor demand interest from below $1.3850, which kept the downside supported. Dealers noted US data out last night painted a mixed picture but the US dollar hasn’t benefited too much from it. Positions were also kept light today due the holidays in Asia and Europe, especially with the key US non-farm payrolls data also due this Friday. Euro-dollar got back up to a $1.3875 high but couldn’t breach layers of rumored offers ahead, in the$1.3880/90 region. Euro-dollar then consolidated its earlier moves as flows slowed to trickle, and was last at $1.3869. Initial support remains at $1.3850/55 but a close below the previous resistance noted at $1.3815 which now becomes support would be needed to ease the current bullish pressure and see the focus shift back to the $1.3772 Apr 30 low
