Level comes in at 1.0619
The EURUSD is trading to new session lows and in the process is down testing -- and falling below - the 100 hour MA at the 1.06198 level.
The next targets come in at 1.0604 and then the 200 hour MA at 1.05919. The range for the day has been extended to 48 pips on the move. That is still below the 67 pip average trading range over the last 22 trading days. So there is some room to roam if the momentum can be maintained.
The price is running away from the 100 day MA at the 1.06527 level. The price moved above that MA on Unemployment Friday even though the data was pretty good. Yesterday, the price extended above the 1.0700 level to trade at 1.0717 - the highest level since Feb 7th. Yesterday the price fell back to test that 100 day MA and today has been a slow grind back below the MA line and now lower.
Helping the downside is the EURJPY and the EURGBP.
The EURJPY fell back below the 100 hour MA and the 38.2% retracement.
The EURGBP also turned to the downside and looks toward its 100 hour MA at 0.8722 (low reached 0.8729 so far). The price has not traded below the 100 hour MA since Feb 24 in that pair. Key support target to get to and through. NOTE: The EURGBP high today stalled just ahead of the high from yesterday. The double top, has helped contribute to the bearishness for the day.
