Traders trade the levels.
At the start of the NY day, the EURUSD was in a 22 pip range. Support on the downside was at the 1.1343-467 area (200 day/week MA and swing level). On the topside my resistance target was up at 1.12927. That is the 61.8% of the 2018 trading range (see post from the start of the day here).
The price first moved to new session low at 1.13459. Support held in the 1.1343-467 area
The price then moved above the earlier high for the day at 1.13736 and extended up to 1.13906, a couple pips short of the 1.13927 or 61.8% retracement.
So what it tells me, is that traders are trading the levels. We currently trade near the middle of that range at 1.1372.
If you didn’t sell against resistance or buy against support you are either up a little, or down a little. Buyers want to see the 1.13927 broken ant a run through the high for the week at 1.14115. Sellers want to see that cluster of support at the 1.1343-467 broken.