EURUSD strikes to new session lows and lowest degree since March 7

EURUSD moved higher during the European morning session, briefly testing Friday’s high and Wednesday’s low, but sellers stepped in to cap the advance. In the U.S. session, the pair has since extended lower, breaking below the 61.8% retracement of the move up from the September 2024 low (not shown), which comes in at 1.08174. The decline also took price below a key swing area down to 1.0804, adding to the bearish momentum.

While Friday saw a similar dip below this support zone followed by a rebound, today’s break appears more decisive. As a result, the 1.0804–1.08174 area now turns into resistance. Holding below this zone will keep sellers in control, while a move back above would signal another failed breakdown and could prompt a rebound.

On the downside, the next support target lies between 1.07767 and 1.07609, followed by the 200-day moving average at 1.07286—a key level the pair moved above on March 5. Sellers are making a strong push, but sustaining momentum below 1.0804 remains the key to extending the move.

Sellers are making a play.