 | |  | | USD: Market Targets EUR/USD Stops In Early Trading
Sydney March 6.
The EUR/USD opened around the NY closing level at 1.2042/45 and initially traded up to 1.2055, triggering very tight small stops above 1.2052, but the move stalled at 1.2055 and the pairing has returned to 1.2045. Dealers report further stops above the 200 day M/A ay 1.2060, which could come under pressure in early Asian trading. The USD/JPY has followed the EUR, trading in a 116.26/45 range and the AUD 0.7441/52. There has been no major news over the weekend, so traders expect a day of range trading in Asia, but after the highly volatile session last Monday, the market will be wary when the offshore flows begin. |  |  |  |  |
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