EURUSD moves to new lows ahead of the London fix

Retests the low from yesterday at 1.1590

The EURUSD has moved to a new low for the day and tests the low from yesterday's trade at 1.1590 as the London fix approaches. 

The pair moved higher in the London/European morning session and tested its 200 hour moving average and swing area between 1.1616 and 1.16238. The move above that moving average/swing area failed, and the price in the US session has been focused more to the downside. 

A move below the 1.1590 level would next target a swing area between 1.1583 1.1586. Breaking below that and the low from last week at 1.1571 would be the next target (that low held support against its 200 hour moving average at the time)..

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October 27, 2021 at 03:00AM
Greg Michalowski
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