• EUR/USD erased most of its early drop, now trades near flat on the session

• Pair's fall halted near short-term structural support in the 1.0330/50 zone

• Slide also halted near the 5- & 21-DMAs which may now act as support

• A daily long legged doji formed, suggests bulls have the upper hand

• Daily chart shows right shoulder of possible inverse head & shoulders

• Monthly RSI diverged on the 26-month low set earlier in January

• Monthly bull hammer in place after 61.8% Fib of 0.9528-1.1276 held

• Break of 1.0430/50 zone (daily highs/lows, 55-DMA) may trigger stop buying

• EUR/USD bulls may then target the 1.0635/55 zone
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)