Forex technical analysis: EURUSD falls below key support floor.

Below 1.1161-71 area.

The EURUSD has moved below a lower floor at the 1.1161-74 area. Looking at the 4 hour chart, there are a number of lows in that area. There was a move below that floor on May 30 but by the end of that day, the price was back above the level AND the market restarted the support at the area. This floor is now risk for shorts. Stay below is more bearish.

The next target comes in at 1.11207 (38.2% retracement). The low from May 30 came in at 1.1108. That is right around the 200 bar MA on the 4-hour at 1.1107. Key target on the downside for the pair today.

Note: The US stocks are lower but so are the stocks in Europe. The UK FTSE, CAC, DAX and Ibex are all down over -1.0% with Italy's FTSE MIB close to that level too.