EURSUSD looks to test the YTD lows

Technical Analysis

Author: Greg Michalowski | eurusd

The year to date low comes in at 1.11094

The EURUSD is under pressure today after we can expected PMI data and German IFO.  The pair just reached a new session low at 1.1115. That is just above the year-to-date low from April 26th at 1.11094.  A move below the low, would target a lower trend line on the daily chart at the 1.1083 level (see chart above). 

The year to date low comes in at 1.11094
Drilling to the hourly chart, the pair is also testing a closer in lower trend line sat 1.1112. A move below it, and the YTD low would give sellers more confidence (if it can stay below).  Key level for potential dip buyers and sellers. The sellers are in firm control of course but cheeky buyers/profit takers may look at the area to stick a "low risk" toe in the water (with stops on a break lower). 
 
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