The pair opened at $1.3526 this morning following last night’s $1.3516 to $1.3535 range during the US session. The early risk-off tone coupled with euro-yen’s losses this morning drove euro-dollar down to an early low of $1.3513. The pair however ran into demand from below the morning lows, and euro-dollar then spent the rest of the session creeping back up in a mild rebound. The pair’s gains picked up a bit toward $1.3520 and it reached $1.3525 before turning around again. The gains resumed as euro-yen also recovered and risk appetite improved, with euro-dollar then trading a fresh high for the session at $1.3528. Initial resistance is noted at $1.3541 with stops noted above $1.3550, $1.3580 and $1.3600. Stops have also been noted to the downside at $1.3490 and below.
