The EURUSD trades quietly as London/Europe look to exit for the day. Some key levels to consider:
- The 1.3133 level was the low price going back to March 22nd
- The 1.3138 is trendline on the chart above
- The 100 bar MA has held resistance today. It is currently at 1.3152 (moving down).
- 38.2% of the days range and the 100 day MA come in at 1.3255/56 levels.
With the trend down over the last few day and the breaking of key support (100 day MA, 38.2% of the years range), it puts the burden of proof on the buyers. They need to overtake the sellers and force the price above the levels outlined. Failure to do so keeps the bears in charge with a break of the low at 1.3106 likely igniting more downside momentum.
