Falls below 100 day MA at 1.1069
The EURUSD is falling to new lows and breaks below the 100 day MA at the same time at the 1.1069 level (see earlier post-NFP report HERE and pre-NFP report HERE). The bears remain n control.The 200 hour MA at the 1.1032 is the next target. Traders will look to lean against the 1.1069-74 now as close resistance.
The high after the move down got up to 1.1133 (see minute chart below). The 38.2 of the move down from that high comes in at the 1.1081-91. This may also be eyed by sellers.
The sledding gets tougher as the pips get tacked on. The range for the EURUSD is 230 pips so far today. But remember on Tuesday the range was about 280 pips. A move to the 200 hour MA would get the range to 247 or so.