Price falls below the low from last week
EURUSD falls to lowest level since March 7.The EURUSD has broken to a new low for the day and in the process has moved below the low from last week, taking the pair to the lowest level since March 7.
In an earlier post, buyers were trying to hold the price above a swing area between 1.0863 and 1.08723, but that level gave way and the price over the last 3 or so hours have continued to run lower. The low has just extended to 1.0827.
Earlier in the day, the buyers tried to take control on a move above the 100 hour MA (blue line in the chart above), but that shot for control ran out of steam, leading to a run back to the downside.
The next targets come in at the swing lows from March 7 at 1.08205 and 1.0805. A move below those levels and the pair is trading at the lowest level since May 2020. FYI….The low price from 2020 reached 1.06347. Be aware.