The ceiling/floor approached
As the Draghi presser begins and the CPI data is in the rear view mirror, the EURUSD has moved up and down.
At the day high, the price did trade to a new session high and pipped above the 38.2% of the move down from the March 20 high at 1.12842 (high reached 1.1287), but was quickly rebuffed.
The low just extended down toward what has been a floor over the last two days at 1.1254. That floor was the ceiling in last week's trading. A break below would tilt the bias more to the downside. Holding above keeps the battle between the 1.1284 level above and the 1.1254 level below alive.
PS. the range is narrow at 33 pips today. The average is 54 pips. So there is room to roam on a break. Be aware
