Some Asian sovereign rebalancing demand later lifted the pair back
City Index February 8, 2011 10:03 PM
<p> EUR/USD Range: 1.3573 – 1.3647 Support: 1.3500 Resistance: 1.3678 Some Asian sovereign rebalancing demand later lifted the pair back through $1.3600 tripping some stops […]</p>






Aussie, along with Gold had a quiet Monday. Today’s open in Asia at $1.0135 saw early slippage as stocks eased sending the pair to a $1.0117 low where strong demand surfaced ahead of additional option related interest placed at $1.0110/00. Stops are placed below, and exporter demand resurfaces towards $1.0050. Aussie then bounced back up to opening levels assisted by a euro-dollar rally back through $1.3600 and further gains were later seen to $1.0172, but offers said to start from here towards $1.0200 are now likely to slow the rally for the time being with major focus on Thursday’s employment data and Friday’s testimony from the Reserve Bank.
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