USD buying continues
The EURUSD has moved down to test the lower trend line on the houry chart at the 1.1033 level (see chart above and the earlier post HERE).
Below that, the 1.1000 level on the daily chart is the next target.
The pair’s holding of the hourly trend line may be a short term bottom. Looking at the 5 minute chart below, the 1.10506-1.1056 area should be a resistance area now if the trend action is to continue…..That is the 38.2%-50% of the last trend leg lower. A move above would muddy the trend waters for the day.