Price is below 1.1300 level
The downside momentum continues for the EURUSD as sellers now push the price below the 1.1300 level and the 50% of the move up from the November 18 low at 1.12962. The next targets are at the 1.1282-89 area. The 61.8% is at 1.12689. The 100 day MA is at 1.12593.
As mentioned in earlier posts (and before the weekend), the 1.1343-47 area is a key barometer for buyers and sellers. The price moved below that area in the Asian session, but did rebound above into the early NY hours. However, the 2nd move below has traders pushing away from that key area and probing the downside.
The low price just reached to 1.12927.
