Forex technical analysis: EURUSD bottoms in a floor area. Bounces.
1.11609-71 is home to a lot of swing levels
The EURUSD is seeing a bounce off a floor area defined by a number of swing lows/high.
Looking at the hourly chart above, if you go back to May 18th, there have been a number of swing levels in the 1.11609 to 1.1171 area (see red circles). The low today bottomed in that range (at 1.1166). Traders stuck a toe in the water, with stops likely on a break below the key floor.