EURUSD Approaching Crucial Support
The Euro after trading as high as 1.1582 against the US Dollar started a correction wave and moved below the 1.1550 support.
However, the EUR/USD pair is currently trading near a major support area at 1.1515. There is also a bullish trend line on the downside at 1.1510 on the hourly chart.
Clearly, the 1.1510-15 support zone is very important and may produce a bounce in the near term. On the upside, there is a short-term bearish trend line at 1.1538. Buying dips near 1.1515 or a break above 1.1540 might be considered in the short term with a stop below the trend line support.
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