Below the swing low from April 29th
The EURUSD has dipped below the swing high from April 29 at 1.21494. The price moved above that level on Friday’s run to the upside and apart from hour or in the early European session today, had stayed above the level until the last hourly bar saw the price break back below the level. Stay below is more bearish in the short term.
The low for the day at 1.2136 is the next target followed by the 38.2% of the last move higher at 1.21298.