The ECB cut rates by 25 basis points, as expected, with a unanimous decision. The press conference is set to begin at 8:45 AM ET.

From a technical perspective, the EURUSD broke below its 100-hour moving average, currently at 1.13495—a key short-term bias barometer. The break increases the bearish tilt, with the next key target coming in at the 1.1271–1.1275 area. That zone includes:

• The July 2023 high at 1.1275

• The 61.8% retracement of the 2020 high to 2022 low at 1.12709

A break below this dual support would further open the downside. Watch for additional targets at the 38.2% retracement of the recent move up from last week's low and the rising 200-hour moving average.

Sellers are starting to take control—but need follow-through below key support to build momentum.