Watching 1.0863 above now
The EURUSD is trading near low levels for the day and is in the range defined by swing lows from earlier in the year. That area is defined by 1.0795 and 1.0863 (see daily chart below). Trade below the 1.0863 and the bears remain in control. Move below the 1.0795 and there should be some further momentum to the downside.
The Fed has done it's thing. There was a relief rally that fizzled yesterday. Today has seen, the price fall, then recover in the early European session. It is now moving back lower before the US data (Initial claims, 3Q current account and Philly Fed index).
