EUR/USD Falls Below 200-Hour Moving Average

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EUR/USD Falls Below 200-Hour Moving Average

By Greg Michalowski on April 3, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EUR/USD has moved below the first support level (200 hour MA). The level comes in currently at the 1.3383 level. The bias should be to the downside, with next target support coming in at the 1.3342 level. The 100 hour MA comes in at the 1.3291 level. Will need volume and momentum to continue to pressure the pair.

Other topside resistance at the 1.3397 (prior low for the day) and 1.3420 to 1.3425 area. Moves back above these levels, hurt the downward bias.

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