Moves to low of resistance area.
The EURUSD has moved to new session highs and in the process took out the highs seen in last weeks trading. Those highs came in at the low of what I define as a resistance area. Looking at the daily chart, the 1.0777 to 1.0820 area is home to a number of swing level going back to December 2015. In November, the price fell below that area. In December there was a spike above that level but it was quickly reversed (ECB day – discount it as a liquidity spike).