EURUSD stays range bound albeit a modest bounce

EURUSD managed to post a modest recovery into Friday’s close, rising 0.31%.

However, the currency pair remains range-bound within the corridor of the 1.0905 and 1.0787 levels for now.

The pullback after falling slightly lower shows the possibility of a retest of the 1.0905 level of resistance.

But price action needs to break out from this range to establish a short term direction in the trend.