Trades in a swing area going back to April 30
The EURUSD is trading at a new NY session low. In the process, the price is trading in a swing area in the 1.09201 to 1.09262 going back to April 30. Yesterday, and into the Asian session today, the price stalled against the area, then broke above, and retested the area before moving up to test the 100 day MA at 1.09694 (see red numbers 5, 6 ad 7).
The holding of the 100 day MA, started the corrective move back lower where intraday buyers and sellers will be eyeing. Go below should lead to more downside probing. Dip buyers would hope for a move back to retest the 100 day MA.
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