We are coming into the Asian open with EUR/USD just a few ticks north of Friday's close nudging into our 4-level Fib resistance zone. 1.2810 should contain any further euro buying for the majority of this week. On light positions, considering the absence of most Western volume, we will be looking to offer into a break above 1.2800 with stops above 1.2820 targeting 1.2730.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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