Moves below 200 hour moving average and trend line in the process
The EURUSD has moved below its 200 hour moving average and trendline on the hourly chart at the 1.1832 level AND the low from earlier today at 1.18282 as well (see earlier post). That has taken the pair to a new week low 1.1822. Traders and will now use the 200 hour moving average (green line) and broken trend line as resistance.
The next support target comes in at 1.1809 which was the swing low from last Thursday. Below that is the swing low from September 10 at 1.17947.