EURUSD cracks below support targets.

Technical Analysis

Author: Greg Michalowski | eurusd

100 hour MA now risk for new shorts.


The EURUSD cracked belwo the 1.23847, then the 100 hour MA at 1.23673. That MA is now risk for shorts. Stay below is more bearish (see earlier post).

The move lower has paused at the 38.2% of the move up from the March 1 low at 1.2334.  If broken, traders will look toward the 200 hour MA at 1.23105. I would expect sellers on the break today, to use that level to take some profit.

GBPUSD is also breaking lower now. 
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