The euro fluctuated in a tight range in the Asian session to see its fifth session rebound in 10 sessions from its lowest since March 7 when its lowest since June 26, 2017, was tested against the dollar on the eve of the release of the bank's monthly report And the economic data expected on Monday by the US economy, the largest economy in the world.
At 04:41 GMT, the EURUSD rose 0.09% to 1.1309, compared to the opening at 1.1303, after reaching a high of 1.1314 and a low of 1.1299.
The markets are currently looking for the US economy to read the New York Industrial Index, which may reflect a widening to 8.1 vs. 3.7 in March, coinciding with a CNN-TV interview of FOMC member and Chairman Bank of Chicago Fed Charles Evans, before speaking about economics and monetary policy at the New York Business Economics Association lunch
Technical analysis:
The EUR / USD pair has stabilized above SMA 50, with the pair gaining a good support base that supports further gains over the intraday basis, noting that a break of 1.1350 will push the price towards 1.1443 as the next key target.
Therefore, we will continue to bias the upside move in the coming sessions unless the 1.1243 and 1.1180 levels are broken below and breaching these levels will press the price to resume the short term bearish path and push the 1.1100 level initially.
The trading range for today is among the key support at 1.1243 and resistance at 1.1420
The expected general trend for today: temporarily bullish