EUR/USD Price Analysis: Upside limited just above 1.1000

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30 November 2023

EUR/USD Price Analysis: Upside limited just above 1.1000

- EUR/USD faces extra downside pressure and breaches 1.0900.

- Further losses retarget the 200-day SMA near 1.0820.

EUR/USD adds to Wednesday’s decline and breaks below the 1.0900 support to print new multi-session lows on Thursday.

So far, the rejection of monthly highs past the key 1.1000 barrier could revisit a minor support at the weekly low of 1.0852 (November 27). The loss of this level could put a potential test of the critical 200-day SMA, today at 1.0816, back on the radar in the short-term horizon.

So far, while above the significant 200-day SMA, today at 1.0816, the pair’s outlook should remain constructive.

EUR/USD daily chart

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