EURUSD falls to a new low

Price moves below its 200 hour MA ahead of the ECB decision.

The EURUSD has moved to a new session low on the day.  The low just reached 1.12081. Headlines that Germany is ready to ditch balanced-budget to combat coronavirus is so far not giving the EUR a boost. The ECB decision will be out shortly where they are expecting to cut rates and potentially announce more QE and liquidity measures.
The price of the EURUSD remains below its 200 hour moving average. That is close risk for the pair now. The lows from March 6 and March 20 at 1.1273-78 are also risk for shorts. The topside channel trend line comes in at 1.13035. Staying below those levels still more bearish technically, and keeps the sellers more in control.
Price moves below its 200 hour MA ahead of the ECB decision.

On the downside the 1.1183 area is the next target, followed by the downward sloping channel trendline at 1.1170.  Below that the 50% retracement of the move up from the February 21 low comes in at 1.11368 and the 200 day moving average comes in at 1.10995.