EUR/USD technical analysis: Euro on track to register its worst weekly decline since late September

The Euro remains on the back foot as the week is coming to an end.
The level to beat for bears is the 1.1105/1.1092 support zone.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily chart, the common currency is trading in a downtrend below its 100 and 200-day simple moving averages (DMAs). EUR/USD is about to register its worst weekly decline since late September this year.

EUR/USD four-hour chart

The Fiber, on the four-hour chart, is trading above the 100 and 200 SMAs. However, the spot is retracing down, trading below the 50 SMA. In order to confirm the correction, sellers should break below the 1.1105/1.1092 support zone on a daily closing basis. A successful break below this area could send the Euro to the 1.1090 and 1.1065 price levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The exchange rate is trading below the main SMAs on the 30-minute chart, suggesting bearish bias in the near term. Resistance can be seen at the 1.1092/1.1120 and 1.1135 price level.

Additional key levels

EUR/USD

Overview
Today last price	1.1084
Today Daily Change	-0.0020
Today Daily Change %	-0.18
Today daily open	1.1104

Trends
Daily SMA20	1.1029
Daily SMA50	1.1036
Daily SMA100	1.1135
Daily SMA200	1.1205

Levels
Previous Daily High	1.1164
Previous Daily Low	1.1092
Previous Weekly High	1.1063
Previous Weekly Low	1.0941
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.112
Daily Fibonacci 61.8%	1.1136
Daily Pivot Point S1	1.1076
Daily Pivot Point S2	1.1049
Daily Pivot Point S3	1.1005
Daily Pivot Point R1	1.1147
Daily Pivot Point R2	1.1191
Daily Pivot Point R3	1.1218

Author

Flavio Tosti

Independent Analyst

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