EUR/USD (January 3, 2011) fell back in the Asian session Monday morning, the market seemed to return to risk aversion. Though EUR/USD showed a strong bullish trend in late 2010, the market opened weak again after the New Year. Some analysts said the rally late last year, was more because of the EUR / USD short covering, rather than the change of perspective on the outlook for the euro. Analysts pointed out that many European countries still needed to extend the debt in the first half of this year, which would continue to put pressure on the euro, at least to limit any significant rise in the euro. Beijing time 9:10, EUR/USD traded at 1.3313/15, fell nearly 50 points from 1.3364 last Friday's closing price in the New York session.