EURUSD trades in a 23 up and down range in the NA session
The EURUSD has remained in a 23 pip trading range during the North American session. The low came in at 1.1838. That was just above the London session low of 1.18117. Both are below the old cycle low for 2021 at 1.1835 from March 9.
The high in the New York session reached 1.18385. That did take the price back above the March 9 swing low but momentum could not be sustained. The price moved back down. We currently trade at 1.1822. The sellers remain in control.
Late yesterday, the price fell below its 200 day moving average currently at 1.1852. The Asian session high stalled right at that level. So the price is likely to close below the 200 day moving average for the 2nd consecutive day (but further away from the MA today). You have to go back to May 26, 2020 to have the pair close below the 200 day MA on back-to-back days (the MA was much lower at 1.1009 at the time).
Seller are more in control below 1.1835 (swing low from March 9), and the 200 day MA at 1.1852.