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"A slew of euro-selling that we have been seeing could slow down from here. The pessimism over Greece & the latest news triggered huge euro sales, but recent moves have been a bit speedy," MBT Walking Shoes Salesaid Makoto Noji, money analyst at SMBC Nikko Securities.Noji said there could be plenty of Japanese institutional investors, such as life insurers, looking for opportunities to build up fresh euro positions in their portfolios for the new financial year that started in April.

"Japanese institutional investors weren't active in purchasing foreign currencies in April, but they could start stepping up their efforts in May & June, so that could provide some support in the euro,"Womens MBT Walking Shoes Noji said.There is talk of some giant bids in the euro from around $1.4050 to $1.4000. below that, the $1.3900 to $1.4000 region is an area that has a bunch of support levels, but also where stop-loss orders are said to be lurking.

Some market players say medium-term players & corporate names have placed euro stop-loss sell orders near $1.4000, & that options-related euro sell orders may also emerge if the euro drops to around $1.4000.In terms of support, the euro's 200-week moving average lies right around $1.4000, the bottom of the every day Ichimoku cloud is at $1.3957, MBT Sandals Shoes Salethe 100-day moving average is at $1.3922 & the 50 percent retracement of the euro's Jan to May rally lies near $1.39. Still, a break of this area could point to a target of $1.3655.

Oil & precious metals were weaker in early Monday trade, not helping the euro, while the Australian dollar also slipped 0.2 percent on Monday to $1.0550 AUD=D4.Market players said the euro could come under pressure as a resolution to the Greek crisis is unlikely at a euro zone finance ministers meeting on Monday Information from a U.S. financial watchdog Women MBT Sport Shoesshowed speculators still had hefty long positions even after they trimmed their long positions in the euro -- & other higher-yielding currencies such as the Australian dollar -- in the week to Tuesday, which suggests chances of more liquidation of euro long positions.