EURUSD extends to a new intraday low and approaches a swing area/100 hour MA

The EUR/USD is extending to a new session low, nearing a key support zone between 1.0332 and 1.0343. Within this range lies the 100-hour moving average at 1.03379. A sustained move below this level would strengthen the bearish bias for today and potentially beyond.

However, if buyers looking to manage risk step in at this support area and successfully halt the decline, a corrective rebound toward the 200-hour moving average at 1.0373 could emerge as a possibility.

Key target for the EURUSD.

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