EURUSD sellers in control
The EURUSD is dipping to a new session low. In the process, the pair is testing the high of a swing area down to 0.9662 at 0.96836. The Monday lows were near that level as well. The 0.9662 is the low of what was swing lows going back to June to October of 2002 (see morning video outlining the level here).
A move below the 0.9662 level would have traders targeting the swing low from September 29 at 0.96354.
On the topside it would take a move back above a swing area above between 0.9733 to 0.97506. The falling 100 hour MA comes in at 0.97379. Yesterday, sellers leaned against the 100 hour MA increasing the levels importance going forward.
Sellers remain in control, with targets defined.
This article was originally published by Forexlive.com. Read the original article here.