Traders were rewarded today with the basing of the pair near its 100 hour moving average (blue line in the chart above) at 1.01949 currently.
Admittedly, the Asian session did trade mostly below its 200 hour moving average above (at 1.0203) and it's 100 hour moving average below (at 1.01949), but traders were rewarded in the European session when the price started to based one last time against the 100 hour moving average, move above its 200 hour moving average and race to the upside.
The high price extended to 1.02468. The high came up short of a upside target swing area between 1.02541 and 1.0257, but at least was better than yesterday's break, giving the buyers some satisfaction in what has been an up and down market.
After peaking, the price corrected into the early North American session, but is moving back to the upside after comfortably stalling the fall ahead of the 200 hour moving average below at 1.0203. If the bias is to remain to the upside, staying above the 200 hour moving average in their 100 hour moving average is required. One can only hope that led some point momentum takes price outside of the trading range is confined the pair since July 18.