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EUR Mid-day Analysis

The Euro is finding definitive near-term support around the 1.3428 area, but is clearly having troubles

The Swiss has put in a near-term floor around the 1.1051 level but along with the Euro remains in a tightrange this week and

While the Yen remains subdued early this week, prices have still fallen down to a new 3-week low early intoday’s session.

The Dollar has held its ground in a tight trading range so far this week, and in spite of modest lossesremains close to new high ground this morning.

The Canadian has stayed clear of last Friday’s spike low, but this week’s tight trading range indicates that risk appetites need to

Mixed results with this morning’s UK economic data have squelched an attempt by the Pound to

Today’s highlights: NZDUSD remains under pressure, and stays bearish towards .8480 next, then .8453/43.

A busy data calendar is slated for the week ahead, bringing a series of major risk events for USD.

EUR/USD has broken the key support areadefined by 1.3503 (see also the long-term risingtrendline from the July 2012 low) and

FX is similarly little changed in Asia today. EURUSD is 1.3434, AUDUSD is 0.9395, and USDJPY is 101.93.

GBP/USD has sold off to its 55 day ma at 1.6958 and the market is finding some near term support here.

EUR/USD charted an inside day yesterday and we suspect that the market is in consolidation mode having recently reached the 1.3424 200 week ma.