Forex technical analysis: EURUSD trades in a narrow range. Break coming?

Trades in a 33 pip trading range.

The EURUSD is trading in a very narrow 34 pip trading range. I know it is a day before the Jackson Hole speech from Draghi but come on.

We trade more near the bottom of the trading range with a high of 1.1817 and a low of 1.1783. We currently trade at 1.1792. Technically on the hourly chart, the highs yesterday stalled just ahead of the 1.18236-275 target resistance. The fall today stalled just before support defined by the 100 bar MA on the 4-hour chart and the 100 hour MA. They come in at 1.1778-81 (with the 100 hour MA moving toward that 1.1781 level.

A move above the topside resistance or bottom side support should solicit more momentum on a break.

Drilling to the 5-minute chart, I am seeing a little more negative. The price is below the close at 1.0806 level. The NY session high reached 1.0810 before the last rotation back lower. The price is also below the 100 and 200 bar MA on that chart at 1.17949 to 1.18006. So sellers are trying to make more of a play. Stay below 1.0806 may be the line in the sand for the bears.

The 50% of the move up from yesterday comes in at the 1.1781 level and right on top of the 100 bar MA on the 4-hour chart. That increases that areas importance even more......

A battle is on, but look for an extension of the range (higher or lower) before the end of the day.