But trades at new session lows...
Ok, so the price action below 1.1100 was not accompanied by any momentum. In fact, I had to have my finger on the screen shot software to get the picture and other brokers may not have printed below the 1.11000 level. Nevertheless, I have the screenshot saying 1.0999 has traded. Another level in the march lower broken.
The low Thursday came in at 1.0991. The low on Wednesday came in at 1.0973. The low on Monday came in at 1.09678 and the low for the week came in at 1.09157.
Looking at the daily chart, the price is now 20 or so pips back below the 100 day (blue line in the chart below). Stay and close below that level is advantage for the bears.
The 50% of the move up from the March low to the May high comes at 1.09638. A close below that level could be the next major hurdle for the bears if they want to keep the pressure on the dip buyers.... Right now though the 1.1000 level is giving cause for pause.
