Closed at 1.1211 yesterday…
The EURUSD is trading near unchanged at 1.1211 (at 1.1214 currently). Looking at the hourly chart, below the 1.1201-07 area is a swing area. The price moved below that area on July 9th but reestablished support against the area on July 10th. The pair resteste the area yesterday and again today. There was a blip below the lower extreme today, but was quickly reversed. It will take a move below the 1.1201 level to weaken the bias more. The sellers had their shot. A floor is trying to be built.
If the floor area can hold the 1.1234-38 would be targeted. That is the home to swing levels from July 8. The price moved above on July 10 and tested on July 12, before moving back below yesterday. The 200 hour MA is dipping and is at the 1.1238 level increasing that area’s importance on more upside momentum.
Activity is quiet. The price can go either way, but the selllers had their shot. The question is, do the buyers have the power to take move control?