Technical Analysis

New lows for the EURUSD

Looks to test the April 10 low

The EURUSD is trading to a new session low. The price has just reached 1.1230. The next target is the low from April 10 at 1.12291. Below that the pair will look toward the 1.1209-156.  

Drilling to the 5-minute chart below, the pair tumble lower, and has slowed the fall since the earlier fall.   The 100 bar MA lags behind. A move above that MA would muddy the bearish waters a bit (also above the topside trend line).  Conversely, a move below the lower trend line would be more bearish.   

EURUSD on the 5 minute remains below the 100 bar MA.

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