EURUSD moves lower after ECB rate decision and in the process falls below the 200 day MA

<p>The EURUSD moved lower on the back of the ECB rate decision and the press conference from ECBs Lagarde. In the process, the pair moved below the 200-day MA at 1.08432 and toward a key swing between 1.08038 to 1.08243. </p><p>Move below that level and traders will be looking toward the 50% of the move up from the October low. That level comes in at 1.07936. </p><p>After that, the 100-day MA is another key target. That level comes in at 1.07687. </p><p>What would hurt the bearish bias?</p><p>A move back above the 200 day MA would disappoint the sellers on the break. </p><p>Sellers making a play for the 2nd time this week. Can they keep the momentum going?</p>

This article was written by Greg Michalowski at www.forexlive.com.