EUR/USD Technical Analysis: Bouncing off key rising trendline, 55-day EMA is level to beat for bulls

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  • The EUR/USD pair is mildly bid in Asia at 1.1332, having defended the support of the trendline connecting the Nov. 13 and Nov. 28 lows yesterday.
  • While the pair may have averted a deeper sell-off with the defense of the rising trendline, a bullish reversal would be confirmed above the 55-day moving average (MA) hurdle. As seen in the chart below, the key MA caught the highs on a closing basis on Oct. 16, Nov. 20, and Dec. 12.
  • A close below the rising trendline support, currently at 1.1314, would signal a downside break of the symmetrical triangle – a bearish continuation pattern – and open up downside toward 1.1215-1.12.

Daily chart     


	EUR/USD Technical Analysis: Bouncing off key rising trendline, 55-day EMA is level to beat for bulls
                            

Trend: Neutral

EUR/USD

Overview:
    Today Last Price: 1.1331
    Today Daily change: 3.0 pips
    Today Daily change %: 0.0265%
    Today Daily Open: 1.1328
Trends:
    Previous Daily SMA20: 1.1361
    Previous Daily SMA50: 1.1409
    Previous Daily SMA100: 1.1508
    Previous Daily SMA200: 1.1733
Levels:
    Previous Daily High: 1.14
    Previous Daily Low: 1.1306
    Previous Weekly High: 1.1424
    Previous Weekly Low: 1.1311
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1342
    Previous Daily Fibonacci 61.8%: 1.1365
    Previous Daily Pivot Point S1: 1.1289
    Previous Daily Pivot Point S2: 1.1251
    Previous Daily Pivot Point S3: 1.1195
    Previous Daily Pivot Point R1: 1.1383
    Previous Daily Pivot Point R2: 1.1439
    Previous Daily Pivot Point R3: 1.1477

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