Technical Analysis

EURUSD ping pongs in a narrow up and down range

EURUSD trades in a narrow range today

The EURUSD has been chopping up and down in a fairly narrow trading range. The high to low trading range is only 47 pips. That compares to the average over the last 22 trading days of 92 pips (about a month of trading).

The low price today stalled near the high from December 30 near 1.07127. The pair then moved back higher and stalled just short of the high from yesterday at 1.07601. The high price reached 1.07587 on the run back up.

The price currently trades around the high going back to December 15 near 1.0735 and near the close from yesterday at 1.07326. Needless to say, the buyers and sellers are battling it out. The good news/bullish is the pair has kept above most recent December highs. The sellers had their shot. The buyers stepped in on the first look.

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