What about support?
The EURUSD overnight tested and held below the 100 day MA (blue step line in the chart below) at the 1.10587 level. The move back below the 200 day MA at 1.10329 did what has been the custom on a break back below that MA (green step line in the chart below). With CPI due out at 8:30 AM, the market will next test the 100 hour MA. THat level comes in at 1.09795 currently. A move below may have the pair looking toward a test of the 1.0950 area.
Remember, the real event will be the FOMC tomorrow. That may keep the market in the range seen over the last 4 or so day. We will see what the data brings.
