Falls to new week lows
The EURUSD is trading at new session lows/new week lows. In the process the price has moved below the 38.2% retracement of the move up from ECB Thursday low. That level comes in at 1.10653. The 200 hour MA – which has been steadily rising toward the price this week, is on a collision course with price now. That level comes in at 1.1055. A move below that and the 200 day MA at 1.10436 looms. Needless to say there are some key levels that could hold up a more bearish party for the pair – at least in front of the FOMC decision at 2 PM ET.