EURUSD falls below key floor support and the 38.2% retracement | Forexlive

The EURUSD has also broke to the downside as focus turns to the EU as a potential whipping dog for Trump.

Technically, the prices also making a key break below support.

The low price going back to April 15 and May 1 at 1.1265 was broken. Before that, the 61.8% retracement of the trading range since the 2020 high at 1.1271 and the swing high from 2023 at 12754 was broken. That area between 1.1265 and 1.1275 is now a risks defining level for sellers looking for more downside.

A closer risk level would be the broken 38.2% retracement of the trend move up from the March 27 well. That level comes in at 1.27505. Staying below that level gives the sellers a go-ahead to push lower.

The next key target would be the 50% midpoint at 1.11509. If the sellers are to restart their control, getting to that level is a level to aspire toward.