Rebound in stocks eases dollars weakness
The EURUSD had retreated back lower after stocks staged another come back pre the US open.
The pair did find support buyers against the prior highs from Feb/May/ June. Those swing highs came in at 1.1449 (from Feb 19th – blue circle 1), 1.1465 (from May 15 – blue circle 2), and 1.1435 (from June 18 – blue circle 3). The low today came in at 1.1455. The 38.2% of the move up from the August 18 low (the recent trend leg higher) comes in at 1.14457.