EURUSD breaks to new lows, eyes key support levels ...Middle East

The 1.1271 level marks the 61.8% retracement of the move up from the 2020 low, The 1.1275 corresponds to the high from July 2023.

A break of that zone would be technically significant.

Adding to the bearish bias, the price has moved further away from both the 100- and 200-hour moving averages. Yesterday, the 100-hour MA acted as support, but today’s rally attempt stalled just short of the 200-hour MA—now reinforcing resistance.

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

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