The story line is not changed

The EURUSD is inching back higher as the close gets nearer.

The pair is back above the 1.1661 level (low from October 6th) and is trading at 1.1668 currently which was the swing low from August 17th. The neckline from the head and shoulder formation comes in at 1.1673. A move above that level should solicit some additional buying. The pair fell below neckline support back on October 26th. Since then the pair has been confined to a range of about 137 pips (12 days).

The pair has also inched up above the 100 bar MA on the r4-hour chart at 1.1663 and remains above the 100 and 200 hour MAs at 1.1627 and 1.1624 respectively.