EURSUD falls below the 200 hour MA
The 200-hour moving averages should have given traders some cause for pause at least on the 1st look. Breaking below with ease has the sellers more in control. There is modest support near 1.11285. Below that the 38.2% retracement of the move up from the July 6 low comes in at 1.1106 and would need to be broken IF the sellers are to take back more control.
Close risk is the 200-hour moving average (at least in the short term). Sellers are making a play on the break. Can they keep the momentum going?
