Dollar trades in narrow range as summer time trading continues
The US dollar is little changed.
The ranges are minimal. The biggest change from yesterday is showing the USDCHF down 35 pips (NZDUSD is down 25 pips). The EURUSD is up 16 pips, USDCAD unchanged, GBPUSD unchanged. AUDUSD 7 pips up. USDJPY 4 pips lower. Not a lot of meat on that ball.
Technically, the EURUSD is below the 100 day MA at the 1.10471 level today, but above the 50% midpoint of the move up from the August low to the August high at the 1.1030 level. Those levels are book ending a bullish or bearish bias intraday. Move above should swing the intraday bias up. Move below and the intraday bias is more bearish (see chart above).
ON the downside the 1.10097-21 is the next hurdle area (yellow area). The 200 hour MA (green line in the chart above at 1.10617 is the next hurdle above.
CPI out in a few. Bullard's more hawkish comments ignored.