The EUR/USD opened in Asia around 1.3325 after falling during the US session on rising US yields and longs paring back after yet another failed rally. There was talk in early Asia of a few stops below 1.3315 and the EUR/USD edged lower to 1.3318 before good buying from US names emerged.
The EUR/USD edged above hourly resistance at 1.3335 to a high of 1.3343 before settling either side of 1.3340 for the balance of the very quiet session. All of Asia"s attention was focused on the high-yield currencies after the RBA surprised some by not hiking rates. The EUR/USD remained sidelined in a 1.3318/43 range with little volume changing hands. The EUR/USD appears to be range-bound for the balance of this holiday affected week.
There is good buying interest ahead of 1.3285 and traders suspect that central bank buying will be around on any extended dips. Sellers are lined up between 1.3350/70 now that the EUR/USD has frustrated by failing at lower highs all week. EZ services PMI and Retail Sales are out later today followed by US non-manufacturing ISM and Factory Orders.
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