EUR/USD keeps lower after the dollar strengthened on Friday on solid data
The pair continues to maintain a narrow range on the day (just 16 pips) with the lows running into mild support around 1.1015. Sellers remain in near-term control following the move lower on Friday, with price sitting below both key hourly moving averages.
I would say price is sitting in a bit of a push and pull territory as buyers will want to keep price from firmly breaking below 1.1000 (also 14 Nov low @ 1.0989) while sellers will keep up the pressure on any hold below the 200-hour MA (blue line) @ 1.1048.
As such, the risk levels for both buyers and sellers can be clearly defined but price is sort of sitting right in the middle of those two levels for now.
One of the key risk events to watch out for today will be the German Ifo survey data at 0900 GMT. A significant miss may likely see sellers maintain offers to drive price towards the 1.1000 level in the coming sessions.
Other than that, be wary of potential movements around key option expiry levels throughout the week as I highlighted here last week.
