EURUSD breaks lower. Extends to new session lows

Moving away from the 100 bar MA on the 4-hour chart

The EURUSD has extended lower - making new session lows. The battle raged for a little between the 100 bar MA on the 4 hour chart at the 1.1310 level and the 1.1326 level above (see prior post). The sellers won.

Looking at the daily chart below, the price is also back below the broken trend line that was pierced toward the end of March. The underside of that broken trend line comes in at 1.1317 today. Moreover, look where the pair stalled at the peak yesterday... Right against the swing high area at the 1.1465.

The next target below is the 1.1266 level. This is the 61.8% of the move up from the March 24 low. The high price on the FOMC day back on March 16th stalled at 1.1241.