EURUSD tests earlier low for the day

<p>US yields have turned back around with the 10 year now up 3.8 basis points at 4.286%, the 2 year yield is modestly higher at 5.009%. </p><p>That has the US dollar moving higher, and the EURUSD lower and back retesting its low for the day near 1.0654. </p><p>Looking at the 4 hour chart above there is a swing area between 1.06583 and 1.06669. Close resistance is now at 1.06669. Staying below is more bearish. Can the sellers keep control and push lower?</p><p>On the downside, the May 31 low at 1.0635 is the next key target. A move below that level and traders would target the 38.2% retracement of the move-up from the September 2022 low at 1.06105 (see daily chart below).</p>

This article was written by Greg Michalowski at www.forexlive.com.