Sellers make a play in the EURUSD. Trading to a new week low | Forexlive

Sellers have pushed the EURUSD lower as the day works toward a close in Europe.

The low for the week was at 1.0814 yesterday. The low from last week was at 1.0804. The low price just reached 1.07968. There is a little bit of a crack in the pair from a technical perspective. Sellers are making a play. Can they keep the momentum going?

The next target comes in between 1.07609 up to 1.0776. Within that range is the rising 100-bar MA on the 4-hour chart at 1.07644. Below that and the 200-day MA is at 1.0728. Two weeks ago as the market trended higher, the price moved above that MA for the first time since November 6th.