The high yesterday got close to the low on the swing area and 61.8% retracement
The EURUSD moved to the highest level since May 2018 yesterday and in the process sniffed the low end of a swing area at 1.18147 and the 61.8% retracement of the move down from the 2018 high at 1.18221.
Drilling to the hourly chart below, the price decline today has taken the pair down to a lower trendline that held yesterday. The price bounced off that trend line modestly. Just below it sits the 100 hour moving average 1.17243 currently (and moving higher). The trendline currently comes in at 1.17328 (and moving higher).
On the topside keep an eye at 1.1772 – 1.17809 area. The 1.17809 was the high price from Mondays trade. The 1.1772 was the high from Tuesday’s trade. Yesterday and today the price traded above and below that level but moved away from it in the Asian/European session.
