EUR/USD Technical Analysis: Euro under pressure near 1.1000 handle after the London close

EUR/USD remains under bearish pressure, near the November lows, after the London close.
The critical level to beat for sellers is the 1.0996 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily chart, the euro/dollar currency pair is trading in a downtrend below its main daily simple moving averages (DMAs). This Wednesday, the sellers are putting the 1.1000 handle to the test. In the US, the GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected, giving USD some more strength.

EUR/USD four-hour chart

The market is approaching the November lows as sellers have been challenging the 1.10996 support level. If the bears breach this key level, the spot is set to decline towards the 1.0968 and 1.0916 according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is under heavy pressure below the main SMAs. Immediate resistance is seen at the 1.1019 level. Further up lie the 1.1048 and 1.1070 levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1002
Today Daily Change	-0.0022
Today Daily Change %	-0.20
Today daily open	1.1024

Trends
Daily SMA20	1.1064
Daily SMA50	1.1042
Daily SMA100	1.1083
Daily SMA200	1.1171

Levels
Previous Daily High	1.1026
Previous Daily Low	1.1006
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1018
Daily Fibonacci 61.8%	1.1014
Daily Pivot Point S1	1.1012
Daily Pivot Point S2	1.1
Daily Pivot Point S3	1.0993
Daily Pivot Point R1	1.1031
Daily Pivot Point R2	1.1038
Daily Pivot Point R3	1.105

Author

Flavio Tosti

Independent Analyst

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