Forex technical analysis: EURUSD extends the range. Moves away from MAs

Moves toward 50% retracement target

The EURUSD has continuing the extension of the narrow trading range. The low to high range is now up to 73 pips. It was 43 pips at the start of the NY session. The price is moving above away from the 100 and 200 hour MAs (blue and green lines).  It is also moving above a topside trend line and the 38.2% of the move down from last week's high (at 1.1917).  The next target comes in at 1.1946. That is the 50% of the same move down.

• The factory orders were weak but as expected.   
• The US stocks are trading lower. 
• The US yields are also sliding lower.  The 10 year is trading down over 7 bps. That is a big slide. It trades at the lowest level since November 10th.
• Gold is higher, helping to weaken the USD 

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