The EURUSD is consolidating in the NY session after falling sharply in Europe on French bank worries and weaker ISM data. The pair has support at 1.4272 and 1.4262. On the topside 1.4285 amd 1.4293 are the break points.
Looking at the daily chart the price low today has also found support against the 38.2% of the move down from the May high at the 1.42577.
Finally, the hourly chart is also signalling a reason to pause. The price stall has slowed at the mid August levels (see chart below).
Keep the levels in mind. NY is trying to find its directional bias. The trend is obviously down so far but some pretty good support is below. Nevertheless, the pressure is on the bulls to prove themselves. A move higher would need to breach the levels outlined above and then start to make further progress. The next level to the upside above the 1.4293 is the 1.4305 which is the 38.2% of the days move to the downside. Getting above this would be a clue for the bulls that the low may be in place and should open the door for further gains. Failure to extend above, keeps the bears happy.