EURUSD stays below trend line and 200 hour MA

Technical Analysis

Author: Greg Michalowski | eurusd

100 day MA below is support. 

The EURUSD fell below a trend line and 200 hour MA earlier in the day, but ran into support near the 50% midpoint and the 100 day MA at 1.1271-72 area. The move away from the 100 day MA stalled at the underside of the broken trend line and the 200 hour MA (at 1.1282 to 1.12845 (and moving higher).  For the last 7 hours, those compressed levels have confined the trading.   

100 day MA below is support. 
In the new day, something will have to give.   Watch those levels for a break and momentum.  A move below will target the 61.8% at 1.1254 as the initial target. The upside target will initially need to get above the 1.1290 level and then will look toward the 100 hour MA at 1.1310. 
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