EUR/USD technical analysis: Under pressure below 1.1095/1100 resistance-confluence

200-HMA, 61.8% Fibonacci retracement and a falling trend-line since late-Monday limit near-term upside of the EUR/USD pair.
Descending support-line from Tuesday can offer immediate support.

Anil Panchal FXStreet

Despite its recent bounce off two-day-old support-line, EUR/USD trades well below key resistance-confluence as it takes the rounds to 1.1085 during early Thursday in Asia.

Given the pair’s repeated failures to cross the key upside barrier, chances of its another dip towards immediate support-line at 1.1065 seem brighter.

In a case prices keep declining below 1.1065, recent low near 1.1050 and the monthly bottom surrounding 1.1027 holds the gate for the EUR/USD pair’s south-run to 1.1000 round-figure.

Meanwhile, 200-hour simple moving average (HMA), 61.8% Fibonacci retracement of recovery since last-Friday and a downward sloping trend-line from late-Monday together constitute 1.1095-1.1100 as the key resistance-area.

Should buyers manage to conquer 1.1100, a quick run-up to 1.1135 and weekly top close to 1.1165 will become highly likely.

EUR/USD hourly chart

Trend: bearish

Additional important levels

Overview
Today last price	1.1082
Today Daily Change	4 pips
Today Daily Change %	0.04%
Today daily open	1.1078

Trends
Daily SMA20	1.1133
Daily SMA50	1.1202
Daily SMA100	1.1209
Daily SMA200	1.1281

Levels
Previous Daily High	1.11
Previous Daily Low	1.1073
Previous Weekly High	1.1154
Previous Weekly Low	1.1052
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1083
Daily Fibonacci 61.8%	1.1089
Daily Pivot Point S1	1.1067
Daily Pivot Point S2	1.1057
Daily Pivot Point S3	1.1041
Daily Pivot Point R1	1.1094
Daily Pivot Point R2	1.111
Daily Pivot Point R3	1.112

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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