1.2010 is the Sept 1 high. 1.20027 is the November 30 high. Price has not been below those level since December 1
Back on September 1, 2020, the EURUSD stretched above the natural resistance at 1.2000 on its way to a high of 1.2010, before reversing back lower. Fast-forward to November 30 and the the price moved up to 1.20027, again just above the natural 1.2000 level, only to back off into the close.
However on December 1, the price extended above the 1.2000 level (and the previous highs), and has not returned to those levels until yesterday and again today.
The low price today has reached between them at 1.20044. It will now take a move below that area (down to 1.2000), to have traders looking toward the next target at the 50% retracement of the move up from the November low. That level comes in at 1.19752. Below that sits the the rising 100 day moving average currently at 1.1954.
Drilling to the hourly chart, the bounce off the low yesterday moved the pair up back toward the floor area between 1.20529 and 1.20577 (see yellow area and red numbered circles). Not being able to get back above that area gave the sellers the confidence to push back down again retest the support at 1.2000 to 1.2010.