EURUSD is trading inside a range, finding support around the 1.0775 level and resistance at 1.0975. Price just bounced off the top of the range and might be due for another move back to support. The 100 SMA is still below the 200 SMA to confirm that the path of least resistance is to the downside or that resistance is more likely to hold than to break. Then again, the gap between the moving averages is narrowing to reflect weaker selling pressure and a looming bullish crossover. If that happens, price could have a chance at breaking past the range top and sustaining a climb of the same height as the rectangle or ... (full story)