Sellers remain in control in the EURUSD but traders are looking for new lows to confirm the intraday bias.

The EURUSD could not make new lows on the last dip, but on the rebounds, it continues to bang against the intraday 100 bar MA resistance (blue line in the chart above) without breaking (100 bar MA is at the 1.24916 level currently).

The range for the day is still relatively narrow at around 88 pips. As a result, a new low can still not be ruled as long as the MA resistance can not be taken out. The next targer remains at 1.24618 where the 61.8% of the move up in June is located.

If the 100 bar MA is taken out, a move toward the 200 bar MA at the 1.2512 (currently) can not be ruled out. Also near the level is the 50% of the June trading range at 1.2516. I would think that shorts would not welcome a move back above this level on any corrective move higher.