100 day moving average at 1.19569

The EURUSD has continued to move lower and in the process has:

  • Moved below the 50% retracement 1.19752 of the move up from the November low,
  • Tested a swing high level going back to August 2020 at 1.1965, and
  • Approached its key 100 day moving average at 1.19569.
100 day moving average at 1.19569

The area between that cluster of technical levels is a key target area for both buyers and sellers. Stay above and we could see a rebound back toward the 1.2000 -1.2010 area. Move below and it opens the door for further downside momentum with 1.19195 as the next key target on the daily chart (swing highs from September 2020 and November 2020).

See earlier post here