NEW YORK (Reuters) - The euro climbed to a fresh session high against the dollar above $1.3100 in technical trading in relatively light volume, analysts said, 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 0.3 percent at $1.3114, after climbing as high as $1.3117. 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. As it broke above $1.3100, anyone betting against the euro was forced to buy, to cover positions and prevent further losses.
(Reporting By Nick Olivari; Editing by Padraic Cassidy)