Trading lower on the day now
The EURUSD moved higher in the European session, but in doing so, the pair reached the 100 day moving average at 1.14476, and found sellers leaning against the area. The high reached 1.1449. Little momentum on the break. Buyers turned to sellers.
The price is now trading lower on the day (following the GBPUSD as it moves lower. The close was at 1.1425) and trades at a new low for the day as I type. The low reached 1.14134.
The 1.14104 is a minor target (and the next one). The 38.2% and high from the Jan 23, is a better target at 1.1394-958. Admittedly, yesterday the price did dip below those levels, but quickly reversed. I still consider it a more important level.
The move lower is now below the 50% of the move down from the January high at 1.1429. That is a close risk area for traders now (with 100 day MA a more conservative stop for bigger bears).