EURUSD reaches target swing area and finds some buyers

The EURUSD move lower today wasn’t over until it hit a swing area between 1.0722 and 107314. At that level, buyers have stuck a toe in the water and pushed the price modestly to the upside. The current price trades at 1.0742.

Looking at the 4-hour chart, that swing area was home to different swing highs and lows going back in time to November 2023 (see red numbered circles). On the top side, watch 1.07605. On a move above that level, the 50% midpoint of the move up from the early October 2023 low comes in at 1.07946. That is also within a swing area between that level and 1.08036.

This article was written by Greg Michalowski at www.forexlive.com.