Price continues to hug the key hourly moving averages
Buyers and sellers are continuing to battle it out around the 100 and 200-hour moving averages (red and blue lines respectively) to start the new week. Friday’s US jobs report failed to offer anything too new to traders and that leaves the near-term bias in EUR/USD still relatively undefined for the time being.
From a technical perspective, near-term resistance is seen closer to 1.1245-50 while support/bids are lined up at the 1.1200 handle with further support seen at 1.1184 from the 2 April low (daily resistance at 1.1187 also still at play here).
That and the near-term levels above should keep EUR/USD still trapped within the 1.1200-50 range to begin the week, until the next catalyst comes along to break the mold.