Forex technical analysis: EURUSD trades at session lows

Technical Analysis

Author: Greg Michalowski | forex-technical-analysis

Up and down trading today in the common currency

The EURUSD is trading up and down today, and is currently trading near the lows. The low just reached 1.0703. The broken 38.2% of the move down from the March 27th high comes in at 1.06977. 

The range today is narrow at 33 pips.  There is room to roam on an extension (lower or higher for that matter). 

What is putting a lid on the pair today is that the high today stalled against the 50% retracement of the move down from the March 27th high.  That comes in at 1.0737. The high today reached 1.07366.  If the pair is going higher, it needs to break above the 1.0737 level.