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EUR/USD remains supported by cross currency price action

On Friday it was noted here; that once again the price action in the EUR/USD remained sticky around that 1.0660 level. The Euro did briefly slip below there though, when trading at 1.0656, but it did not stay down there for more than a fleeting moment. The EUR/USD then lifted back into the US close, to later end the week at 1.0686. So, far today it has not strayed much from that closing level, but it is trying to edge past the 1.07 handle this morning. What can be gleamed from the price action on this one, is that it is being supported by demand for the EUR/JPY, as that sets new 15 year records. The rise in the EUR/GBP right now is helping too. So, we have cross currency dynamics standing in the way of the dollar marking any progress. The thing is; if the USD/JPY does give back ground and the EUR/JPY stays relatively bid, that will open the door for more upside in the EUR/USD. However, that is a variable and not at all assured by any means and of course the USD/JPY has to fall back markedly first anyway. That is not happening just yet. Outside of those cross currency dynamics, the EUR/USD is still stuck in the same identified range (1.0660-1.0760) as it was last week. So, will this week be any different? Not yet it seems 
 

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