• EUR/USD rose to 1.1276 on Tuesday meeting target for a minor correction

• A 23.6% retrace drop from 1.1645 on Sep 9 to 1.1161 Oct 5 is 1.1277

• An oversold situation has been alleviated and pair has dropped on Weds

• On Wednesday's pair down from 1.1262 to 1.1223 EBS

• Oil has climbed around $3 pb since Weds weighing EUR/USD

• Downside target off Sep 9 high, Oct 5 low and Oct 6 recovery high is 1.1088

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EURUSD target


EURUSD correction

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)