Also nears the close from yesterday’s trading
The EURUSD closed yesterday at 1.1352. The price action in the Asian session raced higher — taking out the highs from last week with not much problem at 1.1401. The high reached toward the next targets at swing levels in the 1.1421-24 area, but could only reach 1.14178.
Admittedly, the fall from the high waffled around the 1.1400 level for 3 or so hours into the NY session, but the last two hours has seen a break lower. Fed’s William’s is being a bit more hawkish with his comments.
That run has taken the price back below a broken trend line at 1.1377 and to the 100 and 200 hour MAs at the 1.13529-614 area. A break below that area would push the price back lower and into the red for the day (1.1352 was the close).
Sellers are more dominant but testing a key technical support area.