The 1.1100 to 1.11115 area (and 200 hour MA) are tested.
The EURUSD continued the “dollar selling trend” (higher in EURUSD) in early Asian trading with the pair moving into the next resistance target area in the 1.11618-67 area. That rally stalled the pair technically, and later when “trade tensions” seemed to ease with China calling and looking for more meetings with the US, the pair moved lower (see hourly chart below).
The last 5-6 hours has seen the price move lower and stall at a low of 1.1109 which is in the 1.1100 to 1.1113 swing area that was a recent ceiling for the EURUSD recently until Friday’s break (see yellow area and red numbered circles).
Remember, the 1.1100 to 1.1109 was home to the swing lows from April, May and again in July before breaking lower to the 2019 low on August 1 (to 1.10263). Last week the low reached 1.10478 before rebounding higher and hime cracking above the ceiling.
Ceilings become floors and the 1.1100-1.1113 is now the floor for the pair. It will take a move below the level to swing the bias more to the downside. I would expect selling/stops on a break, but buyers to lean until then.
The pair just reached to a new session low but still remains within the 1.1100 to 1.1113 area. The 200 hour moving average (green line) is at 1.11043. That too is support. The 100 hour moving average (blue line) currently at 1.10966 and moving toward the 1.1100 level.