Dollar dips after claims
The EURUSD is stretching to a new session high (high just reache 1.1754). The move has taken the price above its 100 hour moving average 1.17502 and a downward sloping trendline just below that level I.1748. The pair has moved back below the levels however. Not seeing a momentum move. The trading range for the day is only 41 pips. The compares to a 70 pip average over the last 22 trading days (about a month worth of trading).
If the pair is to continue higher, getting back above the 1.1761 level (and staying above) would give the buyers some added comfort. That level was swing lows going back to March 25 and March 29. The client yesterday stalled just ahead of that level at 1.17594.
For now with the price trading at 1.1746, the pair is higher on the day but if the buyers are to make a play, they better get going.