Support at 109.10 area holding
The EURUSD moved higher. It moved back lower. It trades around mid range now.
What I see (and have seen this week) is when highs are made, the market gets nervous and sellls it back down. On Wednesday and Thursday, the breaks above the 200 hour MA (green line in the chart above) and above the underside of the broken trend line (see thick RED line) were quickly reversed. When you get a break that fails, traders don't like it. It also starts to become a habit.
Today, the 200 hour MA is lower (and moving lower) than the trend line. The high today after the GDP volatility took the price above the 200 hour MA (at 1.0919 now) but barely made it above the trend line (at 1.0932 - the high reached 1.09348). We are currently trading above and below the 200 hour MA.
The low after the data has stalled near the 1.0910. That was the swing low going back to June 24 (Brexit day - not shown). The 1.0907 is the trend line on the hourly chart. I would guess a move below each of those levels should solicit more selling.
I guess the data was good but will that good continue in Q4? Also it is pay back from the weaker 1H of 2016. It is also Friday. So squaring up day. The data failed to break out and run. Technically, we are a little more bullish (above 1.0907-10) but the pattern has been to sell. Get above the topside trend lines will be eyed (and no Failures).
All, that has traders trading with a little up and a little down.