Are sellers in the EURUSD showing their hand?

Is the 100 hour MA putting a ceiling in place?

Looking at the 5 minute chart below, the low on Monday stalled at 1.1916. The overlay of the 100 hour MA comes in at 1.19178. The price action in the NY session has been above and below that area but the last hour (and last corrective move) has seen the price stall against the area.

Are the sellers showing their hand?

Well that is what the price action is showing now (it can change on a break above of course - close risk for shorts now).

Drilling out to the weekly chart (a big jump), yesterday the price moved above the 1.2042 level. That was the swing low from 2012 on it's way to a high of 1.20698. The price rotated lower and did use that level as resistance intraday yesterday before moving back lower (see 5 minute chart above).

The 1.1876 is another downside target that will tell trader more if retested. That is the swing low from 2010 (see weekly chart below). A move below that level and it helps to confirm the potential for more downside (and that the high is in place)

So intraday there is a key test going on, but there is work to do to the downside if going to push further with 1.1876 a key downside target.