The EURUSD is testing the low price from late last Thursday at 1.08103. The low price just reached 1.08104.
A break below the level will have traders looking toward the low price going back to August 1. That level comes in at 1.0777.
Earlier today, the price tested the 200-day moving average in the early Asian session and the 61.8% retracement of the move up from the June low at 1.08709 and 1.08746 respectively. Staying below those levels gave the sellers the go-ahead to push to the downside.
This article was written by Greg Michalowski at www.forexlive.com.
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