The EURUSD has a little bit of everything for all. A little up, a bigger down, and an equal up. The low corrected and found support near the 38.2% of the move up from yesterdays lows (1.2247 vs low of 1.22407. The 1.2246-55 area has also been an area that has attracted energy during this months trading (see chart above). I consider it to be a key level for traders today, through the GDP. A move below and there should be some liquidation back lower. Before that level, the 1.2282-86 will give earlier clues for the pair. The 1.2286 was the low from June 1. The 1.2282 is where the 100 and 200 bar MA are found (see 5 minute chart)
On the top, we know the routine. The price has the highs at 1.2323, 1.2328,1.2333 all lined up. A break above those levels and the price looks toward 1.2366 which is the 50% of the trend move down from the end of June high (see chart below). The 1.2394 and 1.2306 is another target above (1.2394 is the midpoint from the June high). 1.2425 is trend line resistance (see chart below).
