Sellers continue to push the pair
The EURUSD is trading at new session lows and in the process has dipped below its 200 hour moving average at 1.11135. The pair is also testing a swing area between the 1.1109 and 1.11156 area. A move below that area should be more bearish with the 50% and 1.1100 level another hurdle for the sellers to get to a through.
Earlier today, the price was able to get and stay below its 100 hour moving average (blue line in the chart above currently at 1.11426). Note how on the correction sellers leaned against that moving average level and that helped to give the sellers more confidence to push lower (risk defining level). The price today is also moving away from its 200 day moving average at 1.11493 after trading above and below its during last 3 trading days.
