EUR/USD: Initiating a Swing Long from Key Support

Technical Rationale for EUR/USD Long

My analysis of EUR/USD indicates a potential swing long opportunity, despite the current sideways trend. The pair is currently trading at 1.08221, having experienced a -0.26% decline over the past 24 hours and a day range extending down to 1.07802. This recent dip has brought price action closer to a significant support confluence.
I am targeting an entry at 1.0809. This level is strategically placed above the primary short-term support at 1.078, which has proven resilient in recent sessions. The stop loss is set firmly at 1.0742, which positions it below the critical 1.075 support