Tests 100 bar MA on 4 hour chart.
The EURUSD has fallen about 25-30 pips after the better than expected US retail sales. The low extended to 1.11059. The 100 bar MA on the 4-hour chart comes in at 1.11023.
The correction off the low has extended toward the 200 bar MA on the 5 minute chart (green line). The close from yesterday is around 1.1118. We are currently trading around that area. The midpoint of the move down from the high is 1.1127. I would like to see that level hold on the topside to keep the bears somewhat happy.
The 1.1100 level is a level to get to and through below (option related?). The range for the day is only 47 pips.
Looking at the hourly chart the price fell below trend line support (currently at the 1.1121 level). On a break to the downside of the 100 bar moving average on the four-hour chart there remains additional support against other moving averages in the 1.1090 area (200 day moving average and 100 hour moving average), and the 1.1081 price (200 hour average).
