EURUSD dips to new lows, testing key assist stage. What subsequent as we head into new week?

The EURUSD is buying and selling at new session lows and lows for the week. Within the course of, the pair is testing the excessive of a swing space close to 1.0847 and the 61.8% of the transfer up from the February low to the March excessive at 1.08036. The swing space extends all the way down to 1.07955 (see purple numbered circles). A transfer beneath that space – and staying beneath – opens the door to extra draw back probing.

If patrons can assist the pair right here, it could take a transfer again above the 50% of the transfer up from the February low at 1.08374. At that very same stage is the 200-day MA rising the degrees significance. Sellers right this moment moved away from that space. I might guess that if the value does transfer again above that stage, sellers might look to shift again to patrons with the 100-day MA as the subsequent key goal.

To get your arms wrapped round these ranges, watch the video above.