Looks toward swing area at 1.1063-658.
The EURUSD is pushing to a new session low and in the proocess is testing (well breaking) the underside of a broken trend line on the hourly chart.
The next target comes in at the 1.1063-658 which is home to swing lows from August 16, August 20 and August 22. On August 23, the area was broken, but those breaks failed (helped by tariff wars on Friday and sharp dollar selling).
I would expect buyers to line up at the 1.1063-658 on the first test.
What would spoil the bears party now that it has moved to a new session low?
Looking at the 5 minute chart, there is a lot of chop in the price action today. A deterioration of the selling would be on a move above 1.1085, then the converged 100 and 200 bar MAs at 1.1089 area (the 61.8 of the day's range is also there).
Ultimately, the kiss of death for the shorts would be a move back above the 200 hour MA at 1.10946 and the 100 hour MA at 1.1099 (call it 1.11000 - that old chestnut). The high today stalled at 1.10974.
