EURUSD trades to new lows into the London fix

Technical Analysis

Author: Greg Michalowski | eurusd

Tests swing area over the last few days

The EURUSD trades to new lows into the London fix and in the process has moved to test a swing area at 1.18487 to 1.18515. On Wednesday, the low based twice in that area.  On Thursday, the price fell below and found intraday sellers against the area before breaking higher in the NY afternoon session. Earlier today, the price stalled in that area. Follow the red numbered circles in the chart below and yellow area. 

EURUSD on the hourly chart

A move below now should solicit more selling.  Key test into the London fixing at the top of the hour. 

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