EUR/USD starts to look for a near-term break

EUR/USD tries a run above the 100-hour MA

Buyers are looking for a move in the pair once again, as we now head towards a test of the 100-hour MA.

As mentioned earlier, the 100-hour MA (red line) and 200-hour MA (blue line) will provide for narrow trading as traders seek the next near-term direction in the pair.

So, let's see if we get any extension of the trading range or will it be a false break like the one we had in late trading yesterday.

Do keep in mind that there are quite a number of option expiries near current levels at play too that should keep the pair contained from a major breakout.