The pair started in Asia at $1.2679 after trading a $1.2635 to $1.2696 range on Friday. Euro-dollar eased to a low of $1.2672 in early dealings before recovering. Early attention was on the results of the ECB’s stress out on Sunday, although euro-dollar sentiment initially failed to find much of a significant boost from the outcome. The pair rose to an early high of $1.2699 but struggled to push through rumored sellers in the $1.2700/05 region. It held near the high toward the late morning and finally broke through $1.2700, triggering some stops above $1.2705 and then trading a high of $1.2714. The pair was last at $1.2704 with further sellers noted at $1.2720. On the downside, Friday’s US session low is noted at $1.2635, with a $1.2630 option expiry then noted below, before strong demand comes in further down from $1.2614 to $1.2600.
