Fall and hold near the 100 hour MA tilted the bias lower today
The EURUSD yesterday kept stalling at the 100 hour MA (blue line support). In the Asian session the price fell below the line and to the 38.2%. retracement. The move higher in the London morning session stalled at the 100 hour MA (support became resistance). The price moved lower.
Into the NY session, the 200 hour MA has now been broken at 1.15385. That is now risk for the pair. The low did breach the 50% of the move up from last week’s low at 1.15263. We currently trade between those levels at 1.15328.
Looking at the daily chart below, the price low moved into a swing area that has been home to a number of lows going back to May, has been entered (between 1.15068-1.15296). IF the sellers push below that area, it would be more bearish. For today so far, the buyers are leaning against the 1.15068 level.
Yesterday, the high stalled just ahead of the 100 day MA at 1.16247.