EUR/USD Technical Analysis: 1.1402 is the level to beat for the bulls

Omkar Godbole FXStreet Contributor

The EUR/USD fell close to 90 pips on Friday, neutralizing the bullish view put forward by the outside-day reversal. That bearish move has established Thursday's high of 1.1402 as the level to beat for the bulls, that is, the rally from the Nov. 28 low of 1.1267 is seen resuming above 1.1402.

Hourly chart

As seen above, the relative strength index (RSI) has breached the falling trendline. Therefore, the spot could soon find acceptance above the 200-hour exponential moving average (EMA) of 1.1354.

Daily chart

Over on the daily chart, the pair has established a higher low of 1.1267, validating the falling wedge breakout, witnessed on Nov. 16. The bullish setup would gain credence above 1.1402, in which case, the pair may test the inverse head-and-shoulders neckline of 1.1468.
The bears, however, would gain strength if the pair violates the higher low pattern with a move below 1.1267 (Nov. 28 low).

Trend: Cautiously bullish

EUR/USD

Overview:
    Today Last Price: 1.1352
    Today Daily change: 30 pips
    Today Daily change %: 0.265%
    Today Daily Open: 1.1322
Trends:
    Previous Daily SMA20: 1.136
    Previous Daily SMA50: 1.1451
    Previous Daily SMA100: 1.153
    Previous Daily SMA200: 1.1765
Levels:
    Previous Daily High: 1.1402
    Previous Daily Low: 1.1305
    Previous Weekly High: 1.1402
    Previous Weekly Low: 1.1267
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1342
    Previous Daily Fibonacci 61.8%: 1.1365
    Previous Daily Pivot Point S1: 1.1284
    Previous Daily Pivot Point S2: 1.1247
    Previous Daily Pivot Point S3: 1.1188
    Previous Daily Pivot Point R1: 1.138
    Previous Daily Pivot Point R2: 1.1439
    Previous Daily Pivot Point R3: 1.1477

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

AUD/USD seems vulnerable near 0.6800, 10-month low amid bullish USD

AUD/USD languishes near a 10-month low during the Asian session on Friday, awaiting a break below 0.6800 before the next leg up amid a bullish US Dollar. Firming Fed rate-hike expectations, along with fading hopes for US-Iran diplomacy, help the USD hold gains at its highest level since April 2025. Moreover, the RBA’s dovish tilt undermines the Aussie and backs the case for further losses.

USD/JPY bulls turn cautious near 160.00 amid intervention risks

USD/JPY enters a bullish consolidation phase around its highest level since early September as bulls turn cautious amid intervention risk near 160.00. Meanwhile, the downside seems cushioned as the wide US-Japan interest rate gap keeps the Yen carry trade active. Furthermore, the possibility of a jumbo Fed rate hike and Middle East uncertainties hold the US Dollar near a 19-month top, supporting the currency pair.

Gold remains on the back foot below $3,900

Gold now alternates gains with losses below the $3,900 mark per troy ounce on Friday. The precious metal struggles to regain traction amid the firmer US Dollar, mixed US Treasury yields and expectations of further tightening by the Fed at its December meeting.

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.

Week ahead – Fed Minutes, inflation data and Nvidia earnings to guide investors

Fed minutes may add to hawkish tone as bets of 50-bps hike grow. Nvidia to report earnings as bar to impress high after spy scandal. Trade and geopolitics to be focal point of Trump-Xi summit.

Gold hit its lowest level of 2026 near $3,850

Gold (XAU/USD) attempts to stabilize around $3,890 on Friday after falling to $3,852 on Thursday, its lowest level since October 2025. The precious metal has lost more than 4% this week, as investors increasingly anticipate further monetary tightening from the Federal Reserve (Fed). The latest decline reflects a sharp change in market expectations.