EURUSD breaks lower as the press conference comes to an end

The EURUSD has fallen back below the swing highs from January at 1.09288. There is some additional momentum to the downside on the break. The low price has just reached 1.0909.

The next targets come at the 100 and 200 hour moving averages (blue and green lines in the chart above). Those moving averages are near 1.0890 to 1.0892.

A move below those levels would further tilt the bias back to the downside. There is a another swing area between 1.0866 and 1.0874. The bottom of the up and down trading range that has confined the pair for about the last eight trading days (with one failed break on Tuesday) comes in at 1.08345.

On the top side would take move back above the 1.09288 level followed by the swing area between 1.0935 and 1.0943. That swing area were lows and highs going all the way back to March and April 2022 - before the break and run toward the lows of 2022 that took the pair to 0.9535 in September 2022 (see daily chart below).

EURSUD back below old swing area from March April 2022

The press conference is now over with the EURUSD trading near the lows at 1.0910 .