EUR/USD chops around a bit to start the session but is staying little changed on the day currently
Price action is keeping above the key hourly moving averages, suggesting that buyers are in near-term control but gains are limited by the Thursday high @ 1.1865 for now.
The low today hit 1.1829 but isn't leading to much, with the key hourly moving averages still seen around 1.1803-10. Keep above that and buyers still hold near-term control, while sellers will have to try and break back below that region to establish more momentum.
Overall, there isn't much going on so far today as price continues to consolidate for the most part. The bigger picture still tells the story that we are stuck between the 1.1700 and 1.1900 levels over the past three weeks.
As such, those are the key extremes to be mindful about for any major moves this week.
Currently, there is some resistance around 1.1865 but the 1.1900 handle will be the key one to watch in case the upside momentum extends from here.
To the downside, the key hourly moving averages @ 1.1803-10 will be the first near-term support region to watch before looking towards the Friday low @ 1.1782.
Beyond that, further support can be seen closer to the region around 1.1711-22 as well as the 1.1700 handle, with the latter being the key downside support to take note of.
