Support found against trend line on the hourly though as trader battle it out.
The EURUSD tested the underside of a broken trend line on the daily chart. That trend line was broken in yesterday's trading, Testing and holding below the level at the 1.10395 level shows that sellers are leaning - keeping the bears/sellers happy (stay below in control. Move above and the buyers have more control)..
Those sellers may be the buyers from the low reached in the London morning session.
Looking at the hourly chart below, the pair found buyers near a lower trend line connecting the most recent lows (the low reached 1.09847 while the trend line slashed across at 1.09804).
The price action in the EURUSD has been more up and down choppy over the last 24 hours. There are some buying on dips but that buying is coming at patient low levels (like at the trend line). The key is that trend line on the daily chart. Breaking it yesterday was more bearish, There should be a move toward 1.0951, and perhaps 1.0909 but that requires staying below the overhead broken trend line. A move back above and traders might look for further corrective action (toward 1.10668 as the first target).
