Euro climbs to session high versus dollar

NEW YORK Mon Apr 16, 2012 10:49pm IST

People are reflected on an electronic board displaying exchange rates in a business district in Tokyo February 27, 2012. REUTERS/Toru Hanai

People are reflected on an electronic board displaying exchange rates in a business district in Tokyo February 27, 2012.

Credit: Reuters/Toru Hanai

NEW YORK (Reuters) - The euro climbed to the session high against the dollar, recovering from a two-month low earlier in global trading after it did not breach key technical support levels.

In mid afternoon New York trading, the euro last changed hands up 0.1 percent at $1.3086, after climbing as high as $1.3093. Earlier it dropped to a two-month trough of $1.2993.

Stop-loss euro sell orders were reported below $1.2970, but near-term support was seen at $1.2955, around the 61.8 percent retracement of the euro's climb from the January low to the February peak.

With the euro not testing those levels, some buyers stepped in.

(Reporting By Nick Olivari; Editing by Padraic Cassidy)

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