Tests channel trend line
The EURUSD is trading at a new day low and in the process are testing a channel trend line on the hourly chart. That line was broken earlier in the day, with two breaks failing. Do buyers come in now? Key test.
Of importance as well is the trend line on the daily chart. That trend line comes in at 1.16075. We are below it now. If the price bounces off the hourly support, the price has to take back the 1.16075 level.
The battle is on....
