EURUSD trades at session lows and gets closer to swing area

The EURUSD is back down testing the low for the day and the low from last week. The price is also getting closer to the low of a swing area going all the way back to March 2022. That area comes between 1.07509 and 1.0805 (see red numbered circles on the chart above). The low price just reached 1.07596 so far.

A move below that level should open the door for further downside selling.

Of note is that the price has traded above and below the 100-day moving average at 1.08115 currently. The high price today extended above that level to 1.0819, but could not stay above that level. Moving below 1.07509 with momentum would give the sellers against the 100-day moving average more confidence and more control.