The EURUSD has moved to new lows and is testing the lows from the last two weeks. That area comes between 1.07605 and 1.07767. A move below that level is needed to give more momentum to the sellers. A move below that level opens the door for more downside control.
Conversely, bounce and traders are watching 1.08103 for the buyers to feel more comfortable. Absent that and the sellers are in control.
This article was written by Greg Michalowski at www.forexlive.com.
Source link
