North American session becomes crucial as Euro closes gap

Today's North American session becomes extremely vital not only for stock markets but especially for Euro based pairs as they have closed the gap made at opening in Asia.

Euro-Pound -

• Euro-pound has taken out crucial support at 0.70 mark, however hasn't moved much below. Euro found heavy bids from around 0.698 area and has closed the gap down completely. Euro-pound closed Friday at 0.7082 and today it has recovered an currently trading at 0.7079

Euro-Yen -

• Bids on Yen has failed to materialize amid risk aversion. In the Asian trade Yen dropped to new recent low of 122.1 against dollar, however bids failed to materialize since then pushing yen to 122.9 against dollar. Euro is yet to close the gap against yen but recovered sharply enough. Euro-yen closed Friday at 138.3 and currently it is trading at 136.6, recovered from 133.7.

Euro-Dollar -

• Euro had similar move against dollar. Traded as low as 1.095 in Asian trade, however recovered sharply from there to as high as 1.114 closing the gap. Currently trading at 1.11.

North American session becomes crucial to observe whether Euro succeed in advancing further against major pairs or it succumbs to Greece related uncertainty after closing the gap.