Near unchanged on the day

The EURUSD has had an up and down trading day, which I guess is not too surprising. The fall in the London session took the pair to trend line support at the 1.1143 level. The 38.2% retracement was also there and to top it off, there was a lot of option settlements at the 1.1150 level (thanks Mike for that).

US data was "meh". So we have seen a wander higher. The pair just made new North American session highs at the 1.1179 level. The close from yesterday came in at 1.1180. So nearly got back to unchanged.

Needless to say with the Good Friday/Easter Monday holiday ahead, the London/European crowd is out the revolving door. That leaves NY traders who are contemplating doing the same thing. So barring some surprise, expect the flows to take control and for the action to remain subdued (again barring some surprise) into the weekend. The 200 hour MA at 1.11985 (call it 1.1200) is a nice round number and resistance target now.....