LONDON (AFX) - The euro was off-highs in midday trade as light profit taking set in after the single currency failed to break past the 0.9280 usd level, dealers said. But euro remained well underpinned with sufficient demand coming through to keep it in the mid 0.92 usd range, they added. Paul Bednarczyk, currency strategist at 4CAST said the immediate resistance for the euro is at 0.9280 usd. Earlier, the euro reached an interday high of 0.9277 usd. "But players are holding very long euro positions, meaning that the currency is vulnerable to bouts of profit taking," he added. He noted that there is still good demand for the euro from several large banks in the US and Germany. Despite this there is no fundamental reason for the euro's rise. "Its hard to pin it down to anything in particular," he said. Still, the key economic data for the day, all from the US, have yet to come, dealers said. Dealers said there are rumours that the US Conference Board consumer confidence index will come in at 114, ahead of the market consensus of 110. However, a strong result is already priced into the market, and the risk lies in a downside surprise. "The market is positioned for a strong number, so any weakness would hit the dollar," Ian Stannard at BNP Paribas said. "All the data releases relate to the demand side of the economy, and the dollar is sensitive to that at the moment," he added. The yen and sterling were also slightly higher against the dollar, taking their cue from the euro. However, ongoing expectations that the Bank of Japan will intervene on signs of further yen strength has kept a check on the Japanese currency's rise, dealers said.