Watching the 1.1564 level for support buyers lean.

The EURUSD has moved back below the 100 hour MA at 1.1585 level. Recall, yesterday the price stalled near that level . Today the price moved above on the back of weaker Philly Business index.

Look for buyers to show up against the 1.15645 area. That area has been a bullish above/bearish below line over the last 3 trading days. I think the corrective buyers might look to lean there.

Taking a broader look at the daily chart, the pair stalled the fall right at the the May low at 1.1509. The low on my chart reached 1.1507 and bounced. That double bottom/floor should give the buyers some confidence to buy dips today. A move below that level, muddies the waters for the buyers, and there should be more of a drift lower.