EUR/USD Stays Within A Channel Today

The EURUSD drifted lower initially today but found support against trendline support at the 1.4284 level.  The low reached 1.4280 but the price moved higher off the level and started to use the trendline as a level to buy against. The current trendline point comes in at the 1.4300 level and I would expect buyers to lean against this level on dips.

An additional level to watch today is the 1.4328-35 price.  This was the earlier lows for the day and the close from Friday.  There seems to be some apprehension above this level.  The high extended to 1.4344 but there was not much momentum on the move higher.    So with the quiet market, look for sellers above with buying interest above 1.4335, and support against the downside trendline support currently at the 1.4300.    Look for momentum on any breaks above or below these levels to confirm the directional bias move.

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