What levels to eye
The EURUSD has had an up and down trading day today - doing a few laps in the process.
In the process, the price extended briefly above and below some levels that should have triggered more momentum but could not.
Looking at the hourly chart the 1.1379 and 1.1386 was high prices from June 4 and June 10. Last week, the price extended above these highs, but failed to ignite a huge rally (it tried but failed). Today the price had two shots at going higher - each failed.
ON the downside, the 100 hour MA and 38.2% (at 1.13264) was broken. However, each of those moves were quickly reversed. The 1.1337 level is also a level. There has been a number of swing lows/highs in the 1.1326-37 level going back to June 11 (see lower yellow area and blue circles).
With the price stuck between the two extremes, there is room for a break and run at some point. Of course Greece is likely to be a catalyst. So be on the lookout, but the levels seem to be defined.
The market will be looking for a break with momentum as the week progresses.
