Below 50% of recent move higher
Let’s face it…the EURUSD is down. There was some dollar buying overall, but activity remains on the light side. The EURUSD range for the day is only 62 pips. The 22-day average is 97 pips. So volatility remains down so far. There is room to roam (i.e. extend the range),but it also seems the market may be looking forward the "big events" this week including Yellen testimony (10 am ET Wednesday) and at the end of the week when the US NFP is released (Est. 180K). The Fed is looking toward the data/the market is too.