Falls below trend line on the hourly chart
The EURUSD has tilted back to the downside after falling below a lower trend line that the pair had been basing near since yesterday's trading.
The pair is still above the sessions low at the 1.1300 area. The 50% midpoint of the move down from the February 28th high comes in at 1.12967. The 100 and 200 hour MAs (blue and green lines) at 1.12907 and 1.12796 are other downside targets.
Risk for shorts is now the broken trend line. That comes in at 1.13167 currently. Sellers are wrestling some of the control from the buyers seen this week in the pair. The low for the week was on Monday at 1.1221. The high stalled near the topside of a channel trend line late on Wednesday at 1.1338.
