Tests the area of oscillation over the past few days
EURUSD is trading to new lows in the London fix and in the process has moved to test a swing area of 1.18487 to 1.18515. On Wednesday, the lowest was twice in this area. On Thursday, price fell below and found intraday sellers against the zone before breaking higher during the afternoon session in New York. Earlier today, the price stalled in this area. Follow the red numbered circles in the table below and the yellow area.
A move below should now solicit more sales. Key test in fixing London at the top of the hour.