Trend line and 100 bar MA broken
The EURUSD has broken below trend line support, and also the 100 bar moving average on the 4-hour chart (blue line in the chart below). This is now a resistance level to stay below for the bears to remain in control.
The next target comes in at the 1.07565- 1.0759 level. The 50% of the move up from the March 13 low comes in at 1.07565. The 1.0759 is the swing low price going back to September 2003. This area should give traders a cause for pause on a test. The 1.0714 is also a congestion low target (see chart below).
