Go below the 200 hour moving average and trendline in the process
EURUSD fell below its 200-hour moving average and trendline on the hourly chart at the 1.1832 level AND early-of-the-day low at 1.18282 as well (see previous article). This took the pair to a new week low of 1.1822. Traders will now use the 200 hour moving average (green line) and broken trendline as resistance.
The next support target comes at 1.1809, which was last Thursday’s low. Below is the September 10 low at 1.17947.