Inches closer to the 100 day MA
The EURUSD is moving to a new session low after corrective move higher stalled (see earlier post). The price has moved below the 50% of the September range at 1.16699. Staying below is certainly more bearish. The low reached 1.16647.
The next target comes in at 1.16544 where the 100 day MA is found. I expect buyers to lean on the first test of that MA level.
Looking at the 5-minute chart, the price correction stalled ahead of the 100 bar MA on that chart. The high reached 1.1696. The MA came in at 1.1701. Sellers leaned and kept control.
