EURUSD

A flurry of weak PMI's have pulled the EURUSD down lower from the 1.1875 option level highlighted earlier.

EURUSD

Near term support is now at 1.1815 for shorts to lighten some of their load ahead of the US session. However, holding shorts might make sense when you see the overstretched EUR long position and the false break on the weekly chart of EURUSD.

EUR stretched longs