The EURUSD is stretching toward the high prices seen over the last three trading days.
- The high price from Thursday reached1.08663.
- The high price on Friday reached just above that level at 1.08673, and
- The high price yesterday reached 1.08736.
The high price today just reached 1.08688 between those levels and have stalled.
The ECB sources piece of news has helped to push the price further away from the highs. The current price trades at 1.0841. The 100 hour MA remains a key downside target.
Taking a broader look at the daily chart below, the pair remains Also above a swing area going back to March to June 2022. That swing area comes between 1.07468 and 1.0805. The low price today reached 1.08054. In addition to the 100 hour MA, it would take a move below that 1.0805 level, to increase the bearish bias. Absent that and the buyers are still more in control. .
Converesly, should the price move back higher, a break above the recent highs would next target the 1.0940 level (see green numbered circles). That level was a swing low toward the end of March and swing highs in April.
