EUR/USD sticks itself to the 100-hour moving average currently
After a bit of a retracement in overnight trading, buyers are trying to establish a more near-term bullish bias once again by attempting to move above the 100-hour MA (red line).
The trading range for the pair this week is rather subdued with price action largely moving around 1.1050-95, tracking near the 100-hour MA over the past few days.
Near-term support is seen closer to 1.1055 before the 200-hour MA (blue line) @ 1.1046 comes into play. Those will be levels to watch ahead of the PMI data releases and ECB president Lagarde's speech in the next hour or so.
As for any potential topside move, buyers will have to find a way to crack above the 100-day moving average @ 1.1087 - alongside the near-term resistance levels around 1.1090-00.
Let's see if we will get any surprises in the data to help shift the dial towards testing the technical levels highlighted above.
