EUR/USD down at 1.4050 from a North American close Friday up around 1.4080.
Single currency not helped by political setbacks for Merkel and Sarkozy. German Chancellor lost key regional election in Baden-Wurttemberg, while the French President saw the Parti Socialiste extend its’ lead over his UMP in the second round of local elections.
Elsewhere, recent hawkish comments from various Fed officials have given the greenback some support. Latest from Fed’s Bullard, who feels the U.S. economy has improved to the point where Fed should consider ending QE2 early.
No euro zone data of note today.
Buy orders noted clustered at 1.4000/20. Stops through 1.4000, 13980 and 1.3950. Sell orders noted up at 1.4090/00.