The pair started this morning at $1.1793 after overnight losses saw EUR/USD tank to a new 9-year low of $1.1754. Early Asian dealings had euro-dollar stuck in a tight $1.1787 to $1.1794 range as the US dollar looked likely to extend overnight gains. But profit-taking against the US currency crimped its ambitions and euro-dollar then broke through $1.1800 soon after. It traded a $1.1811 high just before the China data release and eased to $1.1800 after that. The pair has since not strayed very far from there through the rest of the morning, and last trades at $1.1809. Stops are noted above $1.1860, $1.1900, $1.1980 and $1.2000 and on the downside below $1.1750. Immediate support is noted at $1.1704, the low traded on Dec 8, 2005, with strong bids then seen below at $1.1700.
