Another quiet morning for the euro after it had traded a $1.3702 to $1.3734 range last night in the US. Euro-dollar opened at $1.3709 and almost immediate found itself stuck in a $1.3709/11 range in early dealings. It briefly extend the high to $1.3712 and then went up to $1.3714 after euro-yen went on its stop-driven move higher. The gains were however capped there as flows remained light. Euro-dollar spent the rest of the morning, still in a $1.3710 to $1.3714 range and was last at $1.3710. The pair has also been capped at the 100-day moving average at $1.3739 a level that has capped the pair since last week’s break below. Topside stops are noted today above $1.3750, $1.3775 and above the 21-day at $1.3803. On the downside stops are noted below the 200-dayat $1.3632.
