EURUSD sellers in control. Below a key swing area between 1.0878 and 1.0894

<p>The EURUSD moved below a swing area between 1.08788 and 1.0894. The 61.8% of the move up from the December low is also in that area and all of it now sets that area a risk and bias defining area. Stay below 1.0894 is more bearish in the short term at least. Move above and the sellers may look to turn to buyers.</p><p>On the downside, the next target comes against its 200-day imoving average of 1.0846. At that key MA, traders will have another decision – buy against the level for a bounce, or hope for a break and further downside momentum. </p>

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