The EURUSD has consolidated at a lower level today. Support against last weeks lows at 1.3531 held with the low for the day coming in at the 1.3539 level. ON the topside we are watching the 1.3584 level which was the low on February 5th and then floor support on February 15th. A move back above this level may solicit additional buying today with an upside target at the 1.5633 area where lows and highs and the 100 hour MA is starting to move toward (currently at the 1.3641 and moving lower).
On the downside in addition to the low at 1.3531, there is key support at the 1.3483 level. This is the 61.8% retracement of the 2009 low to high range. Be aware of this level. I would expect support against the level but a break should not be welcomed by the market.
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