The EURUSD has found some support buyers against the 61.8% of the August trading range at the 1.22513 level. THe low came in at the 1.2254. The high for the day happened to be made in the 1st 5 minute bar of trading today. The low to high trading range is only 52 pips, so there is room for an extension, if the sellers can keep the upper hand.
The 100 bar MA on the 5 minute chart and 38.2% retracement of the days range come in at the 1.22747 level. This will be the corrective level to eye on the upside for selling interest. Stay below and the bears keep the upper hand. Break below the 1.2250, and there should be some further selling.
