The 1.0578-879 being tested
The EURUSD support is being tested hard as I type with the price trading at - whoops, now going below - support at 1.0578. We trade at 1.0574 now. The 1.0578-879 was support (see chart below). It now is resistance on the break. Traders will want to see more downside momentum now. Sellers ar making the play to the downside. They now need to keep the momentum going (and stay below that which was broken)
There is not a whole lot of support until the 1.0535 level Below that the 61.8% of the move up from the Jan low comes in at 1.0526. The swing low from November 2015 stalled at 1.0518.
