The EURUSD has closed below a key price action support level at the round number of 1.3200. This level has been a proven level in the past and has acted as both a key support and resistance. Price has now closed below this level and whilst price continues to close below this level and does not move back above, traders can look for short trades from this key resistance.
If price moves back higher this key level may act as a new resistance area and a solid area to look for short trades on the intraday charts such as the 4hr and 8hr charts. Traders would need to see quality price action to confirm any possible trades at this level.
If price moves back above this level and closes above, price would then look to flip again and hold as support once again.
EURUSD DAILY CHART