The pair started this morning’s session at $1.3391 and made early advances toward last Friday’s US high of $1.3401. It got up to an early high of $1.3399 and then ran into offers there. Dealers said the euro was also pressured by selling in euro crosses including euro-sterling which fell as the UK currency gained on rate expectations, dealers said. Euro-dollar retreated to $1.3388 but found some support from there as dealers also reported demand coming into play from below Friday’s $1.3360 US session low, mostly from $1.3335/30, down to $1.3300. The pair then reclaimed some of the ground lost earlier and inched back up toward $1.3400 in the late morning. Euro-dollar was last at $1.3395. Imediate support for the pair is seen at the $1.3355/50 region, with demand then noted down at $1.3335/30. Stops are noted above $1.3450, $1.3490 and $1.3500 and on the downside below $1.3330, $1.3300 and $1.3290. A close above $1.3485 remains needed to hint at a bigger bounce with overall focus shifting to the $1.3635-00 region.
