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27 Nov 2019
EUR/USD Technical Analysis: The 1.0996 key support is under attack
- EUR/USD is nearing the November lows in the New York session.
- The key level to beat for sellers is the 1.0996 support.
EUR/USD daily chart
On the daily time-frame, the EUR/USD currency pair is trading in a bear trend below the main daily simple moving averages (DMAs). This Wednesday, the market is challenging the 1.1000 handle. In the US, the GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected, giving USD a mild push.
EUR/USD four-hour chart
The market is nearing the November lows as bears are attacking the 1.10996 support level. If the sellers manage to break this key level, the market could decline towards the 1.0968 and 1.0916 according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is under pressure below its main SMAs. Immediate resistance is expected at 1.1019. Further up lie the 1.1048 and 1.1070 levels.
Additional key levels