Trades near unchanged on the day
The EURUSD moved back below the 200 hour moving average earlier and has continued to see more selling into the London close.
The price is now near unchanged on the day and trading back below a broken trend line at 1.0825. The 100 hour moving average is next target at 1.08179. Below that is a swing area at 1.0811-16 area, move below each and sellers are feeling more confident.
The run to the upside today stalled near its 50% retracement (see earlier post here). Finding sellers against that level, and then moving below the 200 hour moving average was a combination that turned the buyers back to sellers.
