EUR/USD Technical Analysis: Near-term rising support to face refreshed downside pressure from 1.1400

EUR/USD trades towards the downside after Friday's spike above the 1.1400 handle, but the Fiber is struggling to maintain recent bullish gains and looks set to withdraw back to intraday support zones from the 38.2% Fibo retracement level.
EUR/USD Forecast: Descending trend-channel caps additional gains ahead of a crucial week for Italian budget

Joshua Gibson FXStreet

EUR/USD Chart, 5-Minute

The past two weeks have seen the EUR/USD drive higher in bullish recovery mode, boosted by a near-term rising trendline, but gains are likely capped at the last swing high that failed to capture the 1.1500 handle in early November.

EUR/USD Chart, 30-Minute

The near-term rising trendline is also due to face stiff resistance from a medium-term declining trendline over the past two months, and the 200-period moving average currently perched at 1.1435, is acting as firm resistance ever since the Fiber declined below the critical indicator in late September.

EUR/USD Chart, 4-Hour

EUR/USD

Overview:
    Last Price: 1.1398
    Daily change: -18 pips
    Daily change: -0.158%
    Daily Open: 1.1416
Trends:
    Daily SMA20: 1.1374
    Daily SMA50: 1.1512
    Daily SMA100: 1.1563
    Daily SMA200: 1.1815
Levels:
    Daily High: 1.142
    Daily Low: 1.132
    Weekly High: 1.142
    Weekly Low: 1.1216
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.1382
    Daily Fibonacci 61.8%: 1.1358
    Daily Pivot Point S1: 1.135
    Daily Pivot Point S2: 1.1284
    Daily Pivot Point S3: 1.1249
    Daily Pivot Point R1: 1.1451
    Daily Pivot Point R2: 1.1486
    Daily Pivot Point R3: 1.1552

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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