EURUSD dips to new lows and below the 50% midpoint for 2022

The
 
 EURUSD  is making a new day low and in the process is back below the 50% midpoint of the years trading range at 1.13075. The price is also below the 1.1300 level (reached a low of 1.12953 so far). The 50% midpoint will now be a close risk level for sellers.

So far the breaks below the 50% have failed today. The sellers have pushed but they have largely failed. The swing high in the current bar reached just above the retracement level, but moved back below. It is now or never. The current price is at 1.1300.

On more selling the 1.1280 level will be targeted, followed by the 61.8% retracement at 1.12634.