EURUSD falls below 50% retracement and 100 hour MA.

Tests 100 hour MA at 1.19339

Slow trading in the EURUSD and the market, but the EURUSD did fall below the 50% of the 3 week range and the 200 hour MA at 1.1954-57. The break turned some intraday buyers into sellers. The 100 hour MA at 1.19339 is the next target. The pair is taking a look below the MA level (see prior post).

You cannot get too excited about Friday afternoon action without a news event, but the inability to get above the highs from yesterday and to stay above the MA/retracement levels is disappointing for the buyers and it seems we are seeing that disappointment in the price action as the week comes to a close.