EUR/USD Technical Analysis: Euro hovering above the 1.1000 handle in the New York session

EUR/USD remains under pressure near the November lows.
The key level to beat for bears is the 1.0996 support.
Thanksgiving bank’s holiday in the US can keep the market choppy for the remainder of the day.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The euro/dollar currency, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DMAs). This Thursday, the market is hovering just above the 1.1000 handle.

EUR/USD four-hour chart

The market is drifting down in a very tight range below the 1.1020 and 1.1046 resistance level. The outlook remains negative for the common currency as a breakdown below the 1.0996 support level could potentially open the doors to further losses towards the 1.0968 and 1.0916 levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading virtually unchanged on the day while trading below a downward sloping 200 SMA. Resistance is expected at the 1.1020 level. Further up lie the 1.1048 and 1.1070 levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1007
Today Daily Change	0.0006
Today Daily Change %	0.05
Today daily open	1.1001

Trends
Daily SMA20	1.1056
Daily SMA50	1.1042
Daily SMA100	1.1081
Daily SMA200	1.1169

Levels
Previous Daily High	1.1027
Previous Daily Low	1.0992
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1005
Daily Fibonacci 61.8%	1.1014
Daily Pivot Point S1	1.0986
Daily Pivot Point S2	1.0971
Daily Pivot Point S3	1.095
Daily Pivot Point R1	1.1022
Daily Pivot Point R2	1.1043
Daily Pivot Point R3	1.1058

Author

Flavio Tosti

Independent Analyst

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