EURUSD takes a look below the 100 hour MA. USDJPY also moving lower. Stocks falling via ForexLive

The EURUSD has dipped below the 100 hour MA as traders debate more hawkish or more dovish. The RBNZ statement which was decidedly more bearish, may have also attracted some sympathy selling in the EURUSD in the process, but that is just an observation, not a statement of fact.

EURUSD falls to new day lows and below 100 hour MA.

The 100 hour MA held support in early NY trading. The current level comes in at 112.90. The low extended to 112.81.  IF the price is to go lower, traders will want to see further momentum soon.  If not expect consolidation into the early Asian trading as traders reassess.

Meanwhile, the USDJPY is moving lower as well, as stocks move to lows for the day and flows lead into the JPY. The pair is moving  toward the 117.17 support floor. The pair  has been finding dip buyers against the 117.17-32 area over the last 7 or so trading days with quick reactionary buys.    Those looking for the dip to buy, this is your area to lean against judging from the recent history. However, be careful on a break. There should be some stops below the low.

USDJPY tests the low extreme seen over the last 7 or so trading days

The S&P is down 26. The Nasdaq is down near 40 points and the Dow is down 180 points with 15 minutes of trading to go. Facebook earnings are up after the close.

posted via ForexLive