The EURUSD has moved lower again today, a day after the high for the day stalled near the September 10 high at 1.19165 (the high reached 1.19195 and backed off – see the daily chart below).

The stall near the high is similar to the lows from last week, that stalled near the low from the later part of September in the 1.16016 to 1.1611 area).

So the pair on the daily chart, trades in a red box between 1.1601 and 1.1919. The current price is just above 1.1800.

Technically on the daily chart, the next downside target for the pair is at 1.17518 area.  More important support would be in in the 1.1687 to 1.1710 area. That is home to a swing area (see yellow area) and also the key 100 day MA at 1.16886 (blue line).

Drilling down to the hourly chart below, the pair fell sharply yesterday after falling below the 1.1846-50 area.  The pair fell toward the rising 100 hour MA and bounced however (blue line).

The subsequent corrective rise today move back up to test the 1.1846-50 area, only to find sellers ahead of the level.  The move back down cracked below its 100 hour moving average for the 1st time since November 4 and has been able to stay below (on a closing basis) since that time (there was a brief peek above the level only to find sellers overwhelm the buyers).

The next key target on the downside would be near the 50% retracement 1.17606 (there is a swing area to 1.1768 near that target) and then the 200 hour moving average at 1.1743 (green line).

It would take a move back above its 100 hour moving average at 1.18156 (blue line) to tilt the trading bias more to the upside.