21:02 UTC
Downtrend, compressing near lows · RSI 42 · price 1.1153
Lower highs from the late-August 1.1711 peak; October range 1.1113–1.1269 with price at the floor.
The pair has been in a downtrend since the mid-September break below 1.1570. It printed lower highs and lower lows from the 1.1711 August peak until early October, then compressed into a 1.1113–1.1269 range. This week price slipped from the 1.1226 oct pivot back to the 1.1113 swing low. Firm USD on the Q3 GDP beat and December Fed-hike pricing, against an energy-hit EUR, keeps price below a falling EMA20 and EMA50, while RSI near 42 shows no oversold extreme.
Support: 1.1113, 1.1000
Resistance: 1.1226, 1.1269, 1.1340
What it said to watch
- Daily close below the 1.1113 swing low extends the lower-low chain and puts the 1.1000 round number in view
- Friday's EZ flash GDP/HICP and US ECI Q3 could materially shift this read
- Recovery through the 1.1226 oct pivot returns price to the middle of the October range
- Daily close above the 1.1269 range top ends the October range; next is the 1.1340 fib 38.2 near EMA50