Trend line and swing area in play as downside targets too
The EURUSD is back down retesting its 100 hour moving average at 1.13276. The pair is just above that level at 1.1330.
Below the moving average is a upward sloping trendline and a swing area between 1.1311-19 (see yellow area). Yesterday and earlier today the price bounced off its 100 hour moving average. This is the 3rd test. Will the 3rd time be a charm with a break and run back lower? Or will the history of the recent past repeat itself. Key level for both buyers and sellers.