Price could not rally. So selling back off.
The EURUSD range in the NY session is only about 25 pips. Over that time, the price has moved back and forth and in the process moved a little above the 100 and 200 hour MAs and a little below the 100 and 200 hour MAs (they come in at 1.1758 and 1.1762 respectively.
The last hour to two hours has seen the price break below the 100 hour MA, test the MA and remain below the MA. The low for the day at 1.1744 is at risk. That level is also the 50% of the move up from the August 17th low.
