Watching $EM around 1.195 - Potential Floor or More Downside?

Been looking at $EM today, specifically that 1.195 level. It seems to have held pretty firm there after the overnight session, trading tightly within 1.195-1.2. I'm wondering if this 1.195 area is shaping up to be a short-term floor, given the intraday range. The risk, of course, is a clear break below 1.195. If that happens convincingly on decent volume, I'd have to reconsider this as support and potentially look for the next leg down. It feels like a pivotal point right now, and I'll be watching how it reacts if it retests that low.