Intraday support at 1.1182
The EURUSD is higher on the day, but well off the high levels at 1.12277. The price currently trades around the 1.1200 level.
Intraday support on the hourly chart can be pegged at the 1.1182 level. That was a corrective low in the Asian session before moving to the highs. It was also a swing low in the London morning session. If the price falls back below that level, we should see further downside probing with the rising trend line at 1.1174 and the swing high/swing low levels at 1.11532 (see blue numbered circles) as the next downside targets.
Stay above the 1.1182 level though and the buyers are clinging to control. Admittedly, the buyers did have their shot it getting and staying above a topside trend line. That has given the pair some of its up and down apprehension. However, since May 25, the pair has trended higher. The last move higher from yesterday's low has also only corrected only to near the 38.2% level at 1.11842.
Stocks are set to open higher....
