As I pointed out, there appeared to be an invisible hand protecting 1.06, which in turn has seen EURUSD correct.
The question then is does the correction have more legs?
On one hand, what has changed is there are no key stops to go after until below 1.06, currently protected by 1.0630.
On the other hand, as the chart shows, the next key level is not until 1.0756, leaving the high of the day at 1.0690 as a key intra-day level which would need to be taken out to extend the retracement.
So, where does this leave us?
It leaves us with a focus on yesterday’s breakout level at 1.0665 needing to hold to keep a bid. Otherwise, look for 1.0650 to exert its magnetic pull.