It will take a move above the trend line to turn the tide more to the upside
The EURUSD moved up to test a topside trend line on the hourly chart below, and sellers leaned against that level, keeping the sellers in control. It will take a move above that level to turn the tide to the upside.
On the downside, the low from Friday reached 1.0772 and would be a downside target to get to and through. The price currently trades at 1.0793 between the trend line above and the the swing low below.
If the low floor is broken the swing low from March 24 comes in at 1.07452. On the topside, a break of the trend line and traders will be looking toward the broken 61.8% retracement level at 1.08302. The high for the day reached 1.08347. Get and stay above each and the tide should change back to the upside.
On the daily chart, the swing low from February came in at 1.07768. The price on Friday dipped below that level to 1.0772 and bounced. Today's low reached 1.07789. A move below the 1.07768 (and staying below) would be give the sellers a different more bearish view from the daily chart.
