Swing area between 1.1701 to 1.1705
The EURUSD has stepped down to the next target area as the dollar is bid vs the EUR on flight to the relative safety of the USD. The 1.1701 to 1.17054 area is the support swing area going back to August 11 to August 23 period. That area is above the year’s swing low reached on August 20 at 1.16634. On a break of the 1.1700 level, the swing low at 1.16634 for the year will be the next major target on the downside.
On a move back to the upside, the 1.1723 to 1.17264 swing area will be the next target to get above. The price on Friday stalled near that level. It was also a swing level going back to August 10 (see green numbered circles).
