The EURUSD fell to a new low for the day taking out the early NY session low at 1.03255.The low just reached 1.03229.
The US session high extended back toward the 100 hour MA. There were a couple of briefs look above the MA level but not by much. The next downside targets come in the 1.0273 ot 1.02934 area. The rising 200 hour MA comes in at 1.02593.
It would take a move with momentum above the 100 hour MA and then the falling 200 day MA (green line at 1.04126) to tilt the bias in the short term back to the upside.
The technical levels are clear. Sellers making a play. They have work to do, however.
This article was originally published by Forexlive.com. Read the original article here.