EURUSD moves to the support/resistance trend line. Finds sellers

Technical Analysis

Author: Greg Michalowski | eurusd

Tested the close from yesterday too...

The EURUSD bottomed at 1.1300. That was near the middle of a swing area and at a nice round number.

The rally off the low just took a quick look at the close from yesterday at 1.1342, and the underside of a trend line that has been a level of support or resistance (see hourly chart below) . A higher trend line cuts across a little higher at 1.1351.  

Sellers came in and have already pushed the price back down toward the 1.1325 level. 

So the battle lines are drawn with 1.1300 and 1.1282, and 1.1342 and 1.1351.  

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose