EURUSD trades below its 100 hour moving average and 30.2% retracement
The EURUSD is start to dig into the support cluster defined by a
- swing area between 1.0896 and 1.9014,
- the 100 hour moving average at 1.09045
- the 38.2% retracement of the move up from the April 24 low at 1.09067
A move below the level would have traders looking toward a lower trendline that cuts across at 1.08847. Below that are the converge 100 and 200 bar moving averages on the 4 hour chart at 1.08770. The 50% retracement of the same move higher comes in at 1.08723. Finally the 200 hour moving average is at 1.08596.
