Next support at 1.0581 area tested...
The EURUSD is down testing the next support target at the 1.0581 level. That level, along with the 1.0564 lows from Monday and Tuesday are the next down side hurdles. The low just printed 1.0582.
We are just hearing that the Atlanta Fed is lower to 2.4% from 3.1% last. That has giving the EURUSD a little boost up to 1.0590 area. Is it enough to turn the intraday sellers back to buyers?
On the topside, the 100 and 200 hour MA remain converged at the 1.0603-04 area. The last test of those MA did hold against those levels (see 5-minute chart below). If the price does move above, there could be more covering.
