EUR/USD Price Analysis: Drops back below 100-HMA, eyes on 1.1350-48

EUR/USD consolidates previous day’s gains, refreshes intraday low of late.
23.6% Fibonacci retracement, two-day-old support line limit immediate downside.
Confluence of 200-HMA, 50.0% Fibonacci retracement level offer tough nut to crack for the bulls.

Anil Panchal FXStreet

EUR/USD pares heaviest daily gains of November, marked the previous day, during early Friday. In doing so, the major currency pair refreshes intraday low to 1.1359 while declining below 100-HMA.

Given the RSI retreat and a likely bearish cross of the MACD line, the latest weakness is expected to stretch towards 1.1350-48 support convergence, comprising a two-day-old support line and 23.6% Fibonacci retracement (Fibo.) of November 09-17 downtrend.

Even if the quote stretches the latest weakness past 1.1348, the previous resistance line from November 09, around 1.1315, adds to the downside filters before directing the quote to the yearly low of 1.1263.

Alternatively, buyers will wait for a clear break of the previous day’s high near 1.1375 for re-entry. Following that, a joint of the 200-HMA and 50.0% Fibo. near 1.1440 will be crucial for the EUR/USD pair’s further upside.

Also acting as an additional challenge to the bulls is the 61.8% Fibonacci retracement level near 1.1480.

EUR/USD: Hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	1.1361
Today Daily Change	-0.0012
Today Daily Change %	-0.11%
Today daily open	1.1373

Trends
Daily SMA20	1.1527
Daily SMA50	1.1606
Daily SMA100	1.1704
Daily SMA200	1.1863

Levels
Previous Daily High	1.1374
Previous Daily Low	1.1314
Previous Weekly High	1.1609
Previous Weekly Low	1.1433
Previous Monthly High	1.1692
Previous Monthly Low	1.1524
Daily Fibonacci 38.2%	1.1351
Daily Fibonacci 61.8%	1.1337
Daily Pivot Point S1	1.1333
Daily Pivot Point S2	1.1293
Daily Pivot Point S3	1.1273
Daily Pivot Point R1	1.1393
Daily Pivot Point R2	1.1414
Daily Pivot Point R3	1.1454

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD remains offered below 1.1800, looks at US data

EUR/USD is still trading on the defensive in the latter part of Thursday’s session, while the US Dollar maintains its bid bias as investors now gear up for Friday’s key release of the PCE data, advanced Q4 GDP prints and flash PMIs.

GBP/USD bounces off monthly lows near 1.3430

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3430 area, its lowest levels in the month. The move reflects a firmer Greenback, supported by another round of solid US data and a somewhat divided FOMC Minutes.

Gold eyes next breakout on US GDP, PCE inflation data

Gold sticks to recent gains around the $5,000-mark early Friday, biding time before the high-impact US macro events. The focus is now on the US fourth-quarter Gross Domestic Product, core Personal Consumption Expenditures Price Index and the Supreme Court’s ruling on President Donald Trump’s tariffs.

Ethereum: Active addresses halt growth as US selling pressure eases

Ethereum network growth has declined after two months of explosive increase. US selling pressure has eased following an improvement in the Coinbase Premium Index. ETH extends its range-bound move below the $2,107 resistance and above $1,740 .

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.