The extremes are set
The EURUSD rallied higher with the general dollar selling today, but when the price reached a topside trend line, the price backed off (see red numbered circles). That trend line currently comes in at 1.0801 which also happens to be the low price from March 18 and near a nice natural level).
On the downside, watch the 1.0700 to 1.0710 area now. The low price just recently moved to a low of 1.06956, but momentum stalled. I would still use that area as a support bias defining area. The 1.0700 is a natural level to try and bottom near, while the 1.0710 is a trend line on the weekly chart (see chart below).
Resistance target above at 1.0800 area trend line. Trend line has 4 points now. Buyer/bulls need a move above for a better technical tone.
Support target at 1.0700 to 1.0710. Momentum below 1.0700 would not be welcomed for buyers looking for a move back higher.
