The pair opened at $1.3656 this morning in Asia, following an overnight range of $1.3645 to $1.3674 in the US. Euro-dollar marked an initial session high of $1.3660 soon after the open and then spent the early hours of the session heading south in a gradual manner, eventually slipping through the overnight low to hit an Asian session low of $1.3641. A mild recovery then ensued with euro-dollar also marginally supported by modest gains in euro-yen, although euro-dollar has thus far failed to recover above $1.3650. The pair was held around $1.3650 since the late morning and was last at $1.3649, with immediate support seen at the 200-day moving average. A break below that is expected to see the pair head toward rumored demand at $1.3600, while techs also show the 76.4% retracement of euro-dollar’s $1.3477 to $1.3995 move coming in at $1.3599.
