EURUSD moves to lowest level since March 21

Tests swing levels

The EURUSD has moved to the lowest level since March 21, taking out the low from last week at 1.22827 (double bottom). Those lows took out the March 22 low by a few pips but failed.

Now we make new lows since March 21. In the process, the price has moved below a swing area at 1.2294-97. That area is now close risk for shorts. Stay below is more bearish.

Looking at the daily chart, the price is testing at lower trend line at 1.22845. The high today reached toward the 50% of the near 3 month trading range at 1.2354 and stalled (bearish). If the price can move and stay below the 1.22845 level, that will be more bearish on that chart (see longer term weekend post HERE).