The upper trend line stalled the rally
The EURUSD has fallen below the lower trend line at the 1.11625 level and triggered stops. The price is also fallen below the 50% retracement at 1.11368 but did find some dip buyers. The next target on the downside comes in at at the 200 day moving average at around the 1.1100 level. Below that is the 100 day moving average at 1.10647 currently.
The rise after the ECB decision did stall against the topside trend line (see red numbered circle 4). That gave the sellers some solace. The price moved back below the 200 hour moving average 1.12519 and has stayed below that level since that time.
