The pair opened at $1.3464 this morning, that level marking the high so far for the session. Euro-dollar then spent a choppy but range-bound session traversing a $1.3455 to $1.3464 range. The pair pulled back to test the lows before the HSBC flash PMI but rebounded after that, in line with euro-yen. Demand from just under the initial low at $1.3455 held the pair up through the rest of the session while the $1.3477 resistance levels which held overnight ($1.3474 high), kept gains limited with sell orders then noted above that from $1.3480/85, stronger offers at $1.3490. Euro-dollar was last at $1.3460. Layers of resistance are noted on the hourlies in the $1.3474-1.3587 region . Stops areseen above $1.3475, $1.3500, $1.3515 and $1.3600. All eyes will be on the European and eurozone PMI data out in Europe this afternoon.
