EURUSD is testing last week’s low. There is support up to 1.07509

EURUSD trades at session low and approaches swing zone

EURUSD is back testing today’s low and last week’s low. The price is also approaching the low of a swing zone dating back to March 2022. This zone lies between 1.07509 and 1.0805 (see the red numbered circles on the chart above). The low price just reached 1.07596 so far.

A move below this level should open the door for further downside selling.

It should be noted that the price has been trading above and below the 100-day moving average at 1.08115 currently. Today’s high price extended above this level at 1.0819 but could not stay above this level. Breaking below 1.07509 with momentum would give sellers of the 100-day moving average more confidence and more control.


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