The EURUSD is trading in a very narrow trading range of 37 pips today. The low for the day is holding above a swing area on the downside between 1.0895 and 1.0908. Stay above that level keeps the buyers firmly in control. Moved below and there could be rotation back down toward 1.0865. That is the 50% retracement of the move down from the April 26 high.
Conversely, if the 1.0900 level can hold support, rotation back to the upside would be expected.
This article was written by Greg Michalowski at www.forexlive.com. Source