The comes in at 1.0811-162
The EURUSD is trading higher and looks to test the lows from last week/earlier this week on Tuesday. Those swing lows came in at 1.08116 to 1.08163.
On Wednesday and Thursday the price action traded above and below those levels. Yesterday's high price however stalled against the 100 hour moving average (blue line in the chart above) and rotated back to the downside. The low price yesterday fell below the swing lows from April 3 and April 6 (they were the lows for the month), but momentum could not be sustained. Those levels came in between 1.0767 and 1.0773.
Today the price action into the London session continued the decline with the pair reaching the lowest level since March 24 (a month from today), but could not reach the low on that day at 1.07187. The low price today reached 1.07265 and began the rally back to the upside (US stocks rebounding helped).
The high price for the day just reached 1.08095, just short of the swing low area at 1.08116 to 1.08163. Sellers may look to lean against the area with stops on a break above. Should the level be broken, the 100 hour MA at 1.0825 will be eyed.
Holding and a rotation back down below the natural 1.0800 support level, should see buyers give up, with a move back toward 1.07677-73 eyed.
