EURUSD Loses Support: Looking for ShortsEuro/US DollarFX:EURUSDTechnicianEURUSD just broke the 1.1655-1.1640 demand area... and price closed below both 50 and 200 day SMAs in the same wave. Three layers of support gone at once — horizontal demand level plus two key moving averages all sitting at the same area. Thats not a coincidence break, thats a confluent zone failing. What makes it more telling is the structure leading into it. Price spent most of April and May building lower highs against that 200-days SMA area.. buyers kept defending the level but couldn't push for new highs. When the floor finally went, it went in one daily candle closing near the lows. A retest of the broken area around 1.1640-1.1655 is possible before continuation. If sellers defend the retest, the path opens toward 1.1576 first, then 1.1508. The deeper support at 1.1443-1.1411 only comes into play if the price takes 1.1508. First target 1.1576, second target 1.1508. Lets see how it plays out. Always remember that a break needs to hold... a quick reclaim back above the 200-days SMA would invalidate the setup for me.