EUR/USD Technical Analysis: 50-day SMA restricts immediate recovery

The EUR/USD pair’s recent pullback stays below near-term key resistance.
A sustained downside break could recall October month lows.
1.1180/75 keeps the key to the pair’s rally.

Anil Panchal FXStreet

EUR/USD buyers look for confirmation, despite recent bounce, as prices still trade below the near-term key moving average, around 1.1025, during early Friday.

The 50-day Simple Moving Average (SMA) level of 1.1040 acts as immediate upside barrier to the pair holding gate for a further recovery towards late-October low surrounding 1.1075/80 and then a rise to 1.1130.

However, any further upside will have to conquer 1.1175/80 confluence including 200-day SMA and multiple tops since October 21.

Meanwhile, pair’s failure to keep the gains and a decline below the recent low of 1.0989 could recall early-October levels close to 1.0940 and 1.0880 to the chart.

EUR/USD daily chart

Trend: Bearish

additional important levels

Overview
Today last price	1.1024
Today Daily Change	3 pips
Today Daily Change %	0.03%
Today daily open	1.1021

Trends
Daily SMA20	1.1092
Daily SMA50	1.1041
Daily SMA100	1.1101
Daily SMA200	1.1181

Levels
Previous Daily High	1.1029
Previous Daily Low	1.0989
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1013
Daily Fibonacci 61.8%	1.1004
Daily Pivot Point S1	1.0997
Daily Pivot Point S2	1.0974
Daily Pivot Point S3	1.0958
Daily Pivot Point R1	1.1037
Daily Pivot Point R2	1.1052
Daily Pivot Point R3	1.1076

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.

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