The EURUSD rally stalled just ahead of the 61.8% retracement level at 1.13781, with the high price reaching 1.1375 before rotating lower. Sellers stepped in at this key technical level, and the pair has since dipped back below the 100-hour moving average at 1.13451—a line that had previously supported the bullish bias (or at least stalled the selling). There have been breaks earlier today, but the selling stalled quickly. Can the sellers keep the momentum going now..
The renewed move lower opens the door for further downside if momentum builds. The next key support comes in at the 50.0% retracement level at 1.13183
EURUSD Technical Update: Sellers lean into 61.8% resistance as downside pressure builds