100 they moving average at 1.20274.
The EURUSD has chopped lower in trading today with the pair just off the lows for the day at 1.20259. The current price trades at 1.20366.
At the lows today, the pair tested the 100 day moving average at 1.20274 on two separate occasions and each dip buyers so far. A move below with more momentum should see a shift more to the downside. On Tuesday, the price fell below the level on its way to the low at 1.19912. However, that break ultimately failed and the price rebounded toward its 100 hour moving average in trading yesterday (but failed to extend above its 200 hour moving average - green line).
If the bears are in control, watch the 1.20492 to 1.20579 area, along with the falling 100 hour moving average currently at 1.20626. Yesterday, the price did extend above that moving average level on 2 separate occasions, only to fail.
