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EURUSD moves lower after ECB rate decision and in the process falls below the 200 day MA

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The EURUSD moved lower on the back of the ECB rate decision and the press conference from ECBs Lagarde. In the process, the pair moved below the 200-day MA at 1.08432 and toward a key swing between 1.08038 to 1.08243.

Move below that level and traders will be looking toward the 50% of the move up from the October low. That level comes in at 1.07936.

After that, the 100-day MA is another key target. That level comes in at 1.07687.

What would hurt the bearish bias?

A move back above the 200 day MA would disappoint the sellers on the break.

Sellers making a play for the 2nd time this week. Can they keep the momentum going?

EURUSD falls below the 200 day MA

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