US session high stays below the swing area between 1.1601 and 1.1611.
The EURUSD is moving to a new session low as stocks move lower and prompt more flows back into the greenback.
Technically, the US session high in the EURUSD saw the price move up to 1.15975. That was short of the swing low levels from September and November of 2020 when the lows came in at 1.1601 and 1.1611. The price rise also stalled near the close from yesterday at 1.1597 - keeping the pair in the red for the day (see earlier post here)
The low price just reached 1.15619. There is room to roam to the downside with the 50% midpoint of the move up from the March 2020 low at 1.14912 as the next key target on the daily chart. As long as the price remains below the 1.1601 to 1.1611 level, the sellers are in firm control.