EURUSD has pushed to fresh session lows, pressing against a key technical pivot — the 50% retracement of the drop from the July 1 high at 1.16098. Earlier in the U.S. session, the pair slipped under its 100-hour moving average at 1.16312 (blue line), flipping the near-term bias to the downside. For sellers, that MA now serves as close risk, and staying below it keeps the bearish tone intact.
A decisive break under 1.16098 would clear the way for a run toward the 200-hour MA at 1.15648. Until then, this midpoint is the battleground. In recent sessions, EURUSD has been capped between that 1.16098 level and Wednesday’s high at 1.1698, making today’s test all the more significant. Sellers have the upper hand — now it’s about whether they can punch through and extend the momentum.
I spoke to these levels in the video from earlier today.
This article was written by Greg Michalowski at investinglive.com.