Yesterday EURUSD fell with a narrow range and closed near the low of the day, however managed to close within the Friday day range, suggesting a weak bearish momentum.
The pair is still trading above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The pair is retesting the 1.1097 daily support and if the price holds it could signal another leg up.
The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1072 (support), the 200-day moving average at 1.1027 (support) and the 50-day moving average at 1.1026 (support).
"I trade to make money not to be right."