• EUR/USD fades bounce off 100-SMA, dropped the most in two weeks the previous day.
  • Steady RSI, sluggish MACD hints at extended grind between 100-SMA and monthly resistance line.
  • Mid-November tops add to the upside filters, five-week-old rising trend line acts as additional support.

EUR/USD consolidates the heaviest daily loss in a fortnight with a choppy range above 1.1300 during Friday’s initial Asian session. That said, the quote seesaws near 1.1325 by the press time.

In doing so, the major currency pair struggles to keep the bounce off 100-SMA after taking a U-turn from the monthly high on Wednesday.

Although EUR/USD buyers keep returning from the 100-SMA, sluggish oscillators, namely the MACD and RSI, hints at another inactive daily performance by the pair as it approaches 2022.

That said, a downside break of the 100-SMA level of 1.1300 will have another support to watch, namely a two-week-old ascending trend line near 1.1280.

Also challenging the EUR/USD bears is an upward sloping support line from November 30, near 1.1245.

Meanwhile, an upside clearance of the monthly horizontal hurdle around 1.1360 will need validation from the November 16 peak of 1.1385 to convince the EUR/USD bulls.

Following that, a run-up toward the tops marked during June and March of 2020, respectively near 1.1425 and 1.1500, can’t be ruled out.

EUR/USD: Four-hour chart

Trend: Sideways

Additional important levels

Overview
Today last price 1.1325
Today Daily Change -0.0023
Today Daily Change % -0.20%
Today daily open 1.1348
 
Trends
Daily SMA20 1.1303
Daily SMA50 1.1393
Daily SMA100 1.1553
Daily SMA200 1.1758
 
Levels
Previous Daily High 1.1369
Previous Daily Low 1.1274
Previous Weekly High 1.1344
Previous Weekly Low 1.1235
Previous Monthly High 1.1616
Previous Monthly Low 1.1186
Daily Fibonacci 38.2% 1.1333
Daily Fibonacci 61.8% 1.131
Daily Pivot Point S1 1.1292
Daily Pivot Point S2 1.1235
Daily Pivot Point S3 1.1197
Daily Pivot Point R1 1.1387
Daily Pivot Point R2 1.1426
Daily Pivot Point R3 1.1482

 

 

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