The EURUSD is making a break to new session lows and in the process, has moved below a key downside support target at 1.0929. Yesterday, the price fell below that level, only to rebound within the hour and start the run back to the upside that culminated with the price five reaching up to 1.0980.
Will today’s break be able to hold resistance against that level, and continue the downward probe? The next target area comes between 1.0878 and 1.0894 if so. A move back above, should be accompanied by disappointment from sellers and a move back to the upside as sellers turn to buyers.
This article was written by Greg Michalowski at www.forexlive.com. Source