The EURUSD has ticked to a new low for the day, but as mentioned in the kickstart video from early today, the 1.0900 level is a key support target. Earlier today, the low price reached 1.09036 and bounced. The low price just reached 1.0902 and is stalling the fall.
In this video, I outline the dynamics of the moves this week including today’s retracement. The key is this 1.0900 level. If that level can hold, it would keep the buyers in control and allow them to restart the bullish bias (with work to do).
Conversely, if the level is broken, there is more downside probing left to do. The level is a key target for both buyers and sellers.
This article was originally published by Forexlive.com. Read the original article here.