The range extended and looks toward the 1.1000 area
The EURUSD is moving to a new session high in the early NY trading. The range for the EURUSD is still relatively modest at 33 pips. The average over the last 22 days (about a month of trading) is 63 pips. There is room to roam. THe high for the day has reached 1.0994 so far. Getting to and through the 1.1000 natural level (also 61.8% retracment) would be needed for the bulls.
Technically, looking at the hourly chart, the pair moved lower earlier in the day but did find support at the 1.0962 area. (see yellow area and red numbered circles on the hourly chart above). Holding that level is showing the buyers are still looking to keep control.
Admittedly, the price has been chopping up and down over the last few trading days after the gains off the new year lows on October 1 (see daily chart below). That low tested a lower trend line on the daily and bounced (see daily chart below) . A target on the daily would come at the 1.10265 which is the low from early August.
