The EURUSD dips under the 100 hour MA. Can extra draw back momentum observe?

The ECB minimize charges by 25 foundation factors, as anticipated, with a unanimous choice. The press convention is about to start at eight:45 AM ET.

From a technical perspective, the EURUSD broke under its 100-hour shifting common, presently at 1.13495—a key short-term bias barometer. The break will increase the bearish tilt, with the following key goal coming in on the 1.1271–1.1275 space. That zone consists of:

• The July 2023 excessive at 1.1275

• The 61.eight% retracement of the 2020 excessive to 2022 low at 1.12709

A break under this twin assist would additional open the draw back. Watch for added targets on the 38.2% retracement of the latest transfer up from final week’s low and the rising 200-hour shifting common.

Sellers are beginning to take management—however want follow-through under key assist to construct momentum.

This text was written by Emma Wang at www.ubaidahsan.com.



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