The buyers and sellers are finding the momentum stalling.

The EURUSD has taken a run at the 100 day MA at 1.17543 (high reached 1.1757) on the topside, and the 200 bar MA and swing area at 1.1716-24 on the downside in trading today The low reached 1.1713). Each test saw the price move 3 pips on the other side of the levels, only to stall. No momentum.

We currently trade nearer the lower area, with the price trading at the 200 bar MA at 1.1722.

Like most of the major pairs, the EURUSD range is confined (although the USDJPY and USDCHF are breaking to new lows as I type). The low to high range is only 45 pips for the day. The 22 day average is now at 65 pips. So there is room for an extension.

The pair closed at 1.1731. The 100 and 200 bar MA on the 5- minute chart is at 1.1732-34. Stay below is more bearish bias intraday. A move back above and the sellers may give up on thoughts of breaking the support floor.