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FXstreet.com (San Francisco) - EUR/USD is virtually unchanged around 1.3380 (+0.33%) since the close in North America, having ended on Monday with slight gains after reaching as high as 1.3402, an eleven-month high.

Technically speaking, "Holding in a tight range, the short term picture looks neutral, as hourly indicators stay flat around their midlines while price hovers around a flat 20 SMA," observes Valeria Bednarik, Chief Analyst at FXstreet.com. However, Bednarik also says that the bullish bias remains strong; "As long as above 1.3320/30 area now, there's scope for a run towards the 1.3485 price zone," she explains.

Asian shares are higher at the Tokyo fix. Markets in Japan have reopened after a public holiday yesterday, and Japan's Nikkei has rallied to levels not seen since April 2010, last at 10,934.50, up 1.23%. The buying interest comes on the back of persistent yen weakness, which is a positive development for domestic exporters. Australian shares are up 0.14%, and Hang Sen 40 is up 0.11%.

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