Range is a modest 24 pips on the day
The EURUSD has moved to a new session high at 1.10978 and backed off a bit. We currently trade at 1.1090.
The moved to the upside get closer to the falling 100 hour moving average at 1.11023 currently (and moving lower). In yesterday's trading the high price spiked up to test that moving average (and the green 200 hour moving average currently at 1.11167) and backed off. Needless to say a move above the 100 hour moving average should lead to more upside probing for the pair. Stay below and the bears remain in control.
The pair did make a new low going back to December 24, and got closer to the 100 day moving average at 1.10655. The low reached 1.10743. There is a lower trendline (which was broken briefly on Monday) at 1.1067 (and moving lower).
The range today is only 24 pips. That is not a lot. We currently trade near the middle of the range. It would make sense to extended to the upside or downside at some point.
Fundamentally Pres. Trump from Davo's is speaking to European leaders about trade. He continues to threaten tariffs on autos and other goods. However, France's Macron also said they agreed to have a truce until the end of the year on technology taxes and tariffs. Yesterday the ZEW data was better-than-expected in Germany and the EU.
