Rumblings about a cut in rates/stimulus sends the pair to support
The EURUSD is trading to a new session lows and in the process is testing a lower trendline on the hourly chart and the 200 day moving average (at 1.1094-96 respectively). The low price just reached 1.10947.
Below that level is the rising 100 hour moving average at 1.1081 currently (and moving higher). And below that level is the 100 day moving average at 1.10537 and 30.2% retracement of the move up from the February 21 low at 1.10481.
Holding support here would give buyers some for the hope for a rebound back to the upside. Key level.
The move to the downside is been helped by "chatter" that the ECB is looking to add stimulus via a rate cut and new TLTRO program.
