Trades near session lows.

The EURUSD has moved away from its 100 day MA at 1.10421 today after an early Asian session sniff of the level was turned away.

Trades near session lows.

The fall has now taken the price below the 38.2% of the move up from the March 23 low at 1.0951, but has so far stayed above the rising 200 hour MA at 1.09059. The 38.2% (it was a swing low from March 27) is now close risk for shorts looking for more downside in the EURUSD (or an area to lean against on a rally).

A trend line connecting recent lows on the hourly chart above cuts across just above the 100 hour MA at 1.09124. Break that area, and the 50% of the move up from the March 23 low will be eyed at 1.08906.

Taking a broader look at the daily chart, another risk level to consider is the 1.0962 level. That is the the 38.2% of the move down from the March high to the March low.

EURSUD on the daily chart