The EURUSD is making a "break for it". What break is it making?
The pair has moved below a cluster of technical levels:
- A swing area between 1.16449 and 1.16596. That area has been a floor and ceiling on the hourly chart going back to September 10
- The 100 hour MA at 1.1655, and the
- 100 day MA at 1.16502
Staying below those levels now that they have been broken, keeps the seller in firm control with the 200hor MA the next key target at 1.1623. Get below that, and the focus shifts toward the lows from month including the double bottom at 1.15413.
