EURUSD on the hourly chart

The EURUSD moved down to test a swing area between 1.1260 to 1.1263 (see earlier post) and found risk focused traders willing to stick a toe in the water (with stops below).

The price has moved back above the broken trend line and 1.1285 swing area, and has seen more upside probing (as expected from the earlier post).

The 1.1300 level (was a low from Friday) will be the next hurdle to get to and through IF the buyers are to take back more control. The 1.13126 and falling 100 hour MA at 1.13245 will follow as other upside targets. Recall that yesterday sellers leaned near the 100 hour MA and pushed lower. On Friday, there was a brief break, that failed. So if the price does retest, that will be a big barometer for both the buyers and the sellers.

A move back below the broken trend line and 1.1285 area would ruin the dip buyers hope.