But finds support on the first look
The EURUSD is trying to get something going to the downside. The price is back below the 100 and 200 hour moving averages (blue and green line in the chart below). Those levels come in at the 1.0859 and 1.08548 levels, respectively. Stay below is more bearish.
The problem for the sellers is on the downside the price move below the 50% retracement level at 1.08393 (this was also the Asian Pacific low), and moved to a new session low at 1.08325, but that is all it could muster. The low corresponds with the low corrective price from last Friday. There a number of swing lows and swing highs between the 1.0832 level and the 1.0839 level.
So if the break of the 100 and 200 hour moving average is for real, the sellers need to be able to push it below the next support at the 1.0832. The battle is on.
