EURUSD moves to a new session low and looks toward the 50%/100 bar MA on 4H chart

<p>The EURUSD is trading to a new set as low as the day comes toward a close. In the process, the price has dipped below the swing area between 1.1062 and 1.1075 bread see red numbered circles on the chart above. </p><p>The next target on the downside comes against the rising 100 bar moving average on the 4-hour chart and 50% midpoint of the move up from the July 6 low. Both of those levels come in near 1.10539. A break below each of those levels would open the door for further downside momentum.</p><p>Conversely, if support buyers lien against the dual level, I would expect another run toward the 1.1092 area and then the broken 38.2 at 1.1106.</p>

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