The EURUSD has been consolidating near the lows over the last three hourly bars. With the 100 hour moving average moving to the upside, the price is getting closer to that moving average level. The moving average currently comes in at 1.08492 (let's call it 1.0850 - it moves up about 1 pip per hour). The low price today reached 1.08568. The current price trades at 1.08625.
Move below with some momentum would have traders looking toward the 200 hour moving average of 1.08269. Back on March 24, the price tested and will below that moving average line but only for one single hourly bar. It did the same thing on March 20.