EUR/USD technical analysis: Better bid, 4H 100MA is key hurdle

EUR/USD is nearing key moving average hurdle on the 4-hour chart.
A violation there would expose trendline sloping from June highs.

Omkar Godbole FXStreet Contributor

EUR/USD is currently trading at 1.0986, representing 0.10% gains on the day.

The currency pair looks set to challenge 1.0991 – the 4-hour chart 100-candle moving average (MA). That average has proved a tough nut to crack at least two times in the last four days.

Hence, a 4H close above 1.0991 could invite stronger buying pressure, possibly leading to a test of the resistance at 1.1025 – the trendline connecting June 25 and Aug. 13 highs. A daily close above the trendline would neutralize the bearish setup.

A failure to take out the 4-hour chart 100-candle MA could yield a drop to 1.0920.

4-hour chart

Trend: Corrective rally

Technical levels

EUR/USD

Overview
Today last price	1.0986
Today Daily Change	0.0008
Today Daily Change %	0.07
Today daily open	1.0978

Trends
Daily SMA20	1.0999
Daily SMA50	1.1062
Daily SMA100	1.1152
Daily SMA200	1.1232

Levels
Previous Daily High	1.1
Previous Daily Low	1.0957
Previous Weekly High	1.1
Previous Weekly Low	1.0879
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.0984
Daily Fibonacci 61.8%	1.0974
Daily Pivot Point S1	1.0957
Daily Pivot Point S2	1.0935
Daily Pivot Point S3	1.0914
Daily Pivot Point R1	1.0999
Daily Pivot Point R2	1.1021
Daily Pivot Point R3	1.1042

Author

Omkar Godbole

FXStreet Contributor

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

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