Forex technical analysis: EUR crosses hit the skids

Follow the EURUSD lower...

The EURUSD got off to a weak start in the NY session after rallying up until that time. The EUR crosses have also hit the skids.

The EURJPY has fallen below support levels including the 100 and 200 bar MA on the 5-minute chart (blue and green line) and also the 200 hour MA at 132.607 and the 100 hour MA at 132.44. You break back below these technical levels and the mood sours for the buyers.

The EURGBP has just moved below the 100 hour MA (blue line in the hourly chart above), and the 50% of the move up from the November low at the 0.71178 level. ON Friday, these same levels were taken out, only to have the selling dry up and the price move back higher.