EUR/USD Price Analysis: Bumpy road for the bulls around 1.1900

  • EUR/USD teases weekly high while eyeing a 12-day-old resistance line.
  • An ascending trend line from November 17 also challenges the bulls.
  • 200-HMA, immediate rising support line can probe the pullback moves.

EUR/USD buyers attack 1.1900 as markets in Tokyo open for Wednesday’s trading. In doing so, the major currency pair not only tests the weekly top but also targets a descending trend line from November 09.

Considering the bullish MACD and the quote’s ability to stay above 200-HMA, the EUR/USD bulls are likely to keep the baton and break the 1.1905 immediate resistance line.

However, another upward sloping trend line resistance, at 1.1910 now, as well as the monthly high near 1.1920, could offer a noisy run-up beyond 1.1900.

On the flip side, an ascending support line from Monday, at 1.1860, near to the 200-HMA level of 1.1852, can restrict the pair’s pullback moves.

It should, however, be noted that any further weakness past-1.1852 will eye for the weekly bottom surrounding 1.1800.

EUR/USD hourly chart

Trend: Pullback expected

Additional impotant levels

Today last price 1.1899
Today Daily Change 7 pips
Today Daily Change % 0.06%
Today daily open 1.1892
Daily SMA20 1.1795
Daily SMA50 1.1776
Daily SMA100 1.175
Daily SMA200 1.1389
Previous Daily High 1.1894
Previous Daily Low 1.1837
Previous Weekly High 1.1894
Previous Weekly Low 1.1814
Previous Monthly High 1.1881
Previous Monthly Low 1.164
Daily Fibonacci 38.2% 1.1872
Daily Fibonacci 61.8% 1.1859
Daily Pivot Point S1 1.1855
Daily Pivot Point S2 1.1817
Daily Pivot Point S3 1.1798
Daily Pivot Point R1 1.1912
Daily Pivot Point R2 1.1932
Daily Pivot Point R3 1.1969



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

GBP/USD retreats from new highs amid dollar strength

GBP/USD has fallen off the peak of 1.3719, the highest since 2018, amid fresh dollar strength. Optimism about the UK's vaccine campaign and lower cases boosted sterling earlier. The greenback awaiting Biden's first moves as President. 


EUR/USD falls toward 1.21 ahead of Biden´s inauguration

EUR/USD has been descending toward 1.21. President-elect Biden is inaugurated later in the day and hopes of stimulus are high after Treasury Secretary nominee Yellen's testimony. 


Gold: Bulls recapture 200-DMA ahead of Biden's inauguration

Gold prices are attempting to correct higher above 200-DMA. The metal cheers rising US inflation expectations amid hopes of a massive stimulus package under the incoming Biden administration. 

Gold news

Bank of Canada Rate Decision Preview: No change anticipated in interest rate

The Bank of Canada is widely expected to keep monetary policy and quantitative easing unchanged at its meeting on Wednesday in spite of new COVID-19 provincial lockdowns and a slowing economy.

Read more

US Dollar Index: Upside target remains at 91.00

DXY met buyers in the 90.30 region earlier on Wednesday and now resumes the upside to the 90.50/55 band.

US Dollar Index News