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27 Nov 2019
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.
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