The EURUSD moved above the 200 hour MA, but failed. The price is now gathering momentum to the downside after taking out the lows (see post) . The next target is the 1.2246-55. The 61.8% of the move up from August 2nd comes in at 1.22513. Other lows and highs from the month of July (and into early August) also come in at the level. The 1.2217 is the next target below that area.
Close resistance now at 1.22878 (the 50% of the move up from the August low) and support level from earlier today.