The pair started in Asia at $1.3757, not far from its overnight low of $1.3753 seen during the US hours. It saw a mild uptick through $1.3760 and got up to $1.3767, driven by early demand spotted from around $1.3750. Euro-dollar players however showed no inclination so far to threaten the overnight US high of $1.3773 and the pair eased toward the US low in very muted Asia-Pacific trading. The move lower picked up some minor sell orders above $1.3750 which contributed in keeping the pair pinned back near $1.3752 in the late morning, and was last at $1.3759. Immediate support to the downside is seen at the 100-day moving average at $1.3740, where minor bids and stops are also noted. Further down, more bids surround the $1.3720 and $1.3700 levels. Sellers meanwhile are said to still be in place from the $1.3750 region and the $1.3780 zone. The 21 day lower Bollinger band comes in around $1.3747 and with closes below a rarity downside follow through could be limited for the time being. Aclose back above $1.3771 would ease the bearish pressure a little. All eyes will be on the German and EZ ZEW Economic Statements due today
