Forex technical analysis: EURUSD has little in the way of a bounce. What does it mean?

Floor broken. Now we have a lower ceiling

The EURUSD had a floor area at the 1.0700-06 area (go back and look at posts on the EURUSD). Yesterday, that floor was broken. and then a new ceiling was formed at the 1.0673-79 (see 5 minute chart below). The price is not exactly running to the downside, but the bounces are small and not exactly scaring the shorts. The 100 and 200 bar MA are converged (blue and green lines) and now remain as a close resistance but also pay attention to that ceiling at the 1.0673-79 area.

Looking at the daily chart, the price is below the swing lows from April 21st and 23rd at the 1.0659 level. The 100 and 200 bar MA on the chart above comes in at the 1.0656/577 level. This increases that levels importance now. Stay below, the sellers in firm control.