EUR / USD buyers are always ready, but the price is not in a hurry to run now

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The EUR / USD continues to sit in a narrow range during the day

EUR / USD H1 10-04

ForexLive

The highest today is extending to 1,1274 with the lowest at 1,126, a range of just 18 pips up to now. Buyers still have short-term control (the price remains above the key hourly moving averages) but there is not much real conviction to continue moving towards the 1.1300 threshold for the moment.

In the current state, the resistance region around 1.1270-85 proves to be sufficient to limit the rise in the pair before the headlines of the Brexit extension, the minutes of the CPI and FOMC meeting published later today.

Moreover, many deadlines (3.3 billion euros) are disappearing between 11h25 and 75h, which should also limit the price action at the European meeting. This is something to consider for price movements in the coming hours before 14:00 GMT.

Given the circumstances, I would expect prices to continue at current levels before the key events mentioned above. I think these will be the only things that can move the USD / USD back and forth today. Otherwise, expect the narrow range of trade this week to continue.

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