100 hour MA broken at 1.1297
The EURUSD started the New York session testing swing high levels between 1.13449 and 1.13527 (see earlier post outlining key area). The tumbled stocks have sent the dollar higher across the board and with it the EURUSD has marched sharply lower. the pair has now broken below the 38.2% retracement at 1.12988, the 100 hour moving average at 1.1297 and looks now toward the lower trend line at 1.1283.
A break below that level would have traders eyeing the 50% retracement 1.12769 and the 200 hour moving average at 1.12689. Close risk is now the 38.2% retracement (call it 1.1300).
