Early buyers have led to consistent selling over the last 6 hours
The EURUSD was extending higher in trading earlier today, but as soon as the price fell below an upward sloping trendline on the hourly chart and the 100 hour moving average, the buyers turned to sellers. The price has been trending lower since that time.
The pair just reached a new session low at 1.08026, just above the natural support 1.0800. A break below that level would have traders looking down toward the April 6 low at
1.07676.
Close risk now comes in at 1.08162. That was the swing low from April 16. Stay below and the sellers remain in firm control.
