EUR/USD continues to sit in a narrow range on the day
The high today extends to 1.1274 with the low at 1.1256, a mere 18 pips range so far. Buyers are still in near-term control (price holds above key hourly moving averages) but there isn't much real conviction to chase a move towards the 1.1300 handle for the time being.
As it stands, resistance region around 1.1270-85 is proving to be enough to keep the upside in the pair limited ahead of Brexit extension headlines, US CPI and the FOMC meeting minutes release later today.
What more, there's actually a host of expiries (€3.3 billion) rolling off today between 1.1245-75 that is likely to also keep price action muted in the European session. That is something to consider for price movements in the hours to come before 1400 GMT.
Given the circumstances, I would expect price action to stick to current levels ahead of the key events pointed out above. I reckon those will be the only things to be able to move EUR/USD in either direction today. Otherwise, expect the narrow trading range this week to continue.
