The pair started this morning’s session at $1.2225 after pulling back from a high of $1.2252 traded during the holiday-thinned overnight hours. The pullback continued this morning with euro-dollar sliding to $1.2214 initially and then stretching the low to $1.2204 soon after Japanese stocks opened lower. Euro-dollar rallied after that, reaching $1.2222 around mid-morning after the earlier dip revealed buy orders around the $1.2200 mark and below, dealers said. Euro-dollar spent the rest of the morning holding just off the high, and last traded at $1.2219. Stops are noted above $1.2305, $1.2370 and $1.2440 today and on the downside below $1.2160. While $1.2302 caps bears remain firmly focused on the $1.2042 2012 low.
