Watching the break levels for resistance now
The EURUSD fell below the trend line support line and the 100 hour moving average. It is having trouble against the 38.2% retracement level, however (at the 1.1337).
In the process the range for the day has been extended from 85 pips to 114 pips. The push off the 38.2% has so far held against the underside of the broken trend line at the 1.13605 level currently. The close intraday resistance seems to the be that line now. Stay below and the bears remain in control. Move above and there is some slippage of the bearish bias (could see shorts cover).
A move below the 1.1337 level will next target the 1.1316-23 area. The 50% and 200 hour MA remain a level to eye below but getting there today would be a stretch. On the topside, a move above the 1.1360 level, may look toward the 1.1380-90. So far though, the sellers are remaining in control.
