High for the day got close to the high for the week.
The EURUSD got within 6 pips of the Monday/week high.
We just fell and tested the low from Monday (actually dipped a pip below the Tuesday low).
So the range today, has the week's trading range covered.
The question now is can the range be extended?
The fall has taken the price below the 100 hour MA at 1.1703 (tried to hold on the Draghi comments but eventually gave way). That break led to a break of the 200 hour MA at 1.16824. The fall below each, turned the bias more bearish.
The price has more recently busted the 50% of the move up from last week at 1.16617. The low yesterday stalled just ahead of that level at 1.16635. That area is now close risk for shorts.
A break lower will look toward 1.1641 as the market probes levels and sees what sticks.
Looking at the daily chart below the pair has been consolidating between a couple trend lines. The high today stalled at the topside trend line today at 1.1743. The lower trend line comes in at 1.1591.
