The pair started at $1.3628 in Asia Wednesday, the rate slid to an initial low of $1.3618 from an early daily high of $1.3630 while dollar-yen takes centre stage during Asia session. The euro corrected lower from US session range of $1.3619 to $1.3648 (200-dma), where heavy offers pressured the euro lower to breach NY’s low and registered fresh session low of $1.3609 during Asia afternoon session before rebounding to $1.3615 last. Broad based dollar strength weighed on the euro as dollar-yen kept making fresh session highs and the euro-yen was forced to a high of Y139.96 from a morning low of Y139.64 before retracing to Y139.77 last. Euro bulls would need to try clear reported offers at $1.3640 & $1.3655 and a close above the 200-dma ($1.3648), further offers are reported at $1.3670/80 with stops above $1.3680. Important support lies at $1.3588/86 ahead of strong demand at $1.3585/80 and stops noted below $1.3570. Europe PMIs and Eurozone final Q1 GDP will be released later but market all eyes on Thursday ECB monetary policy and Friday US jobs data.
