Floor being developed near the 38.2% of the move up from May 25 swing low.
The EURUSD fell to the 38.2% of the move up from the May 25 low AND recent lows from June 12 and June 17 at 1.1211 and 1.1206 respectively. The 38.2% is between those levels at 1.12105. The low today stalled just ahead of those levels at 1.12137 as traders leaned.
That area is developing a floor now. It will take a break of the floor to turn the area to a ceiling. Hold the floor and the buyers remain in the game and we can expect a rebound back higher. The key upside target would be at the falling 100 hour MA at 1.12678. The high for the day has so far reached 1.12608 ahead of that MA. Yesterday, if you recall, the price stalled right at that MA (see blue line) and fell back down.
So there is a battle going on between the floor at 1.1206-13 and the 100 hour MA above at 1.12678.