EURUSD cracks the 100 day MA

Technical Analysis

Author: Greg Michalowski | eurusd

A close below would be the first since May 25

The EURUSD has now cracked below the 100 day MA as dollar buying into the month end fixing.  Looking at the hourly chart, the pair in the NA session, was able to extend above the topside trend line, but found sellers near the swing low from October 19 and the 1.17000 area.  

A close below would be the first since May 25
Looking at the daily chart, the pair has not closed below the 100 day MA since May 25. Stay below and the next target comes in at the September low at 1.16117. Below that and it opens up the door for a possible move down toward 1.14849. That is the 38.2% retracement of the move up from the March 2020 low (and low for the year).

EURSUD on the daily chart

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