Two levels of interest on the dip...

The EURUSD has moved lower and has given up most of the gains seen after the weaker than expected Durable goods report his morning.

The price was trading at 1.1281 just as the number was released. It is currently trading at 1.1286. Nearly back to where it all started.

That level (at 1.1281) along with the 100 hour MA and the 200 bar MA on the 4-hour chart at the 1.1277 level AND the 50% of the move up from yesterday's low (also at 1.1277), should attract some dip buyers.

When there is a cluster of technical "stuff" at the 1.1277-81 level, it makes defining and limiting risk easy. If it breaks, the price should go lower. If it holds, the price can move back higher. A crowd should gather there which is always a good thing for traders.